Abbott to acquire Exact Sciences

• Acquisition adds a new growth vertical to Abbott’s already high single-digit growth profile, gaining leadership in the fast-growing $60 billion U.S. cancer screening and precision oncology diagnostics segments
• Acquisition will uniquely position Abbott to transform cancer care, advancing earlier detection and optimizing treatment and monitoring to help millions more people live healthier lives
• Exact Sciences’ product lines feature advanced cancer screening and diagnostic solutions, including the market-leading Cologuard® and Oncotype DX® tests, and cutting-edge liquid biopsy tests for multi-cancer early detection and molecular residual disease testing
• Acquisition will be immediately accretive to Abbott’s revenue growth and gross margin

ABBOTT PARK, Ill., and MADISON, Wis., Nov. 20, 2025 — Abbott (NYSE: ABT) and Exact Sciences (NASDAQ: EXAS) today announced a definitive agreement for Abbott to acquire Exact Sciences, which will enable it to enter and lead in fast-growing cancer diagnostics segments, serving millions more people. Under the terms of the agreement, Exact Sciences shareholders will receive $105 per common share, representing a total equity value of approximately $21 billion.

More details about the acquisition can be found in the Presentation Acquisition of Exact Science by Abbott.

Together, the companies will accelerate innovation, expand access to life-changing diagnostics, and help more people detect and manage cancer at its earliest, most treatable stages.

Exact Sciences focuses on the early detection of cancer and supporting personalized treatments. Exact Sciences’ comprehensive product offerings support patients and their healthcare providers before, during and after a cancer diagnosis. The company is a leader in cancer screening, precision oncology and genetic testing, helping to detect cancer earlier, guide treatment decisions and monitor for recurrence.Its product offerings include the Cologuard^® test, a market-leading noninvasive colorectal cancer screening option; Oncotype DX^®, which informs personalized treatment decisions for patients with breast cancer; Oncodetect™, which identifies molecular residual disease (MRD) to help assess the risk of recurrence and guide follow-up care; and Cancerguard^™, a multi-cancer early detection blood test.

Approximately 20 million people globally, including 2 million Americans, are diagnosed with cancer every year. These numbers are only expected to rise in the coming years due to population growth, aging and other contributing factors.^*

“Exact Sciences’ innovation, its strong brand and customer-focused execution are unrivaled in the cancer diagnostics space, and its presence and strengths are complementary to our own,” said Robert B. Ford, chairman and chief executive officer, Abbott. “Abbott has repeatedly taken on the world’s most challenging health issues and made a meaningful impact on the lives of people in areas such as diabetes, cardiovascular disease and infectious diseases. We’re excited to bring Exact Sciences’ people and know-how into Abbott so that together, we can take on the global challenge of cancer.”

“Together with Abbott, we can reach more patients, advance earlier detection, and deliver answers that change lives,” said Kevin Conroy, chairman and chief executive officer, Exact Sciences. “Abbott’s culture of innovation and global commercial reach will help accelerate our mission of eradicating cancer and expanding access to our tests worldwide, while delivering immediate and substantial value to our shareholders. I want to thank the 7,000 Exact Sciences’ team members for their extraordinary work and dedication — our journey has just begun.”

Financial & Operational
Under the terms of the agreement, Abbott will acquire all outstanding shares of Exact Sciences for $105 per common share in cash, at a total equity value of approximately $21 billion and an estimated enterprise value of $23 billion. Abbott’s financing contemplates absorption of Exact Sciences’ estimated $1.8 billion of net debt.

The closing is expected in the second quarter of 2026 and is subject to Exact Sciences’ shareholder approval, as well as receipt of applicable regulatory approvals and other customary closing conditions. The transaction was unanimously approved by both companies’ boards of directors.

Exact Sciences is projected to generate more than $3 billion in revenue this year, with a high teens organic sales growth rate. Once the transaction is completed, Exact Sciences will become a subsidiary of Abbott, and Abbott’s total diagnostics sales will exceed $12 billion annually.

Following the closing, Exact Sciences will maintain its presence in Madison, Wis. Kevin Conroy will remain with the company in an advisory role to support the transition into Abbott and accelerate its global impact in helping to eradicate cancer worldwide.

Abbott Conference Call
Abbott will conduct a special conference call today at 8 a.m. Central Time (9 a.m. Eastern Time) to provide an overview of the transaction. A live webcast will be accessible through Abbott’s Investor Relations website at www.abbottinvestor.com.

Exact Sciences’ Industry-Leading Product Offerings and Pipeline
Exact Sciences is a leader in cancer screening and precision oncology diagnostics, helping people before, during and after cancer diagnosis with stool-based and liquid biopsy (e.g. blood) tests, molecular residual disease (MRD) monitoring and treatment guidance and therapy selection.

Screening
· Cologuard and Cologuard Plus Tests are leading non-invasive colorectal cancer tests that have revolutionized screening
· Cancerguard detects 50 cancer types, even the most aggressive – such as pancreatic, ovarian, liver, esophageal, lung and stomach – through a simple blood draw
· Oncoguard Liver Test finds the most common liver cancer in people with cirrhosis or chronic hepatitis B
· Riskguard Test is a genetic test that helps assess hereditary risk for certain cancers and informs treatment decisions and can be used both before and after diagnosis

Testing After Diagnosis
· Oncotype DX provides critical insights into the likely benefit from chemotherapy or hormone therapy in breast cancer, enabling physicians to tailor treatment plans with confidence
· Oncodetect Test identifies extremely small traces of cancer in blood that may remain after treatment or surgery to help predict cancer recurrence and guide follow-up decisions
· OncoExTra Test analyzes DNA and RNA from a patient’s tumor to guide therapy for advanced, metastatic, or recurrent solid tumors, delivering actionable insights like targetable mutations, immunotherapy markers, and clinical trial options

In addition to its current products, Exact Sciences is also advancing a leading pipeline of next-generation cancer diagnostics designed to detect cancer even earlier, optimize treatment decisions and enable regular monitoring to help people stay healthy and better manage the disease.