A major change is happening in the world of genetic testing. Regeneron, a big name in pharmaceuticals, is set to buy 23andMe. The company is paying $256 million for this deal. This purchase happened after 23andMe went through a tough time and had to sell off its assets.

23andMe is known for its genetic testing kits. It has a huge database of personal and genetic information from 15 million customers. Regeneron wants to use this data to help find new drugs. They say they will keep the data safe and use it responsibly.

Things went downhill for 23andMe in 2023. A data breach exposed the private information of 7 million customers. This, along with a drop in interest for their DNA kits, led to their bankruptcy. The company's leader, Anne Wojcicki, stepped down after these issues.

After filing for bankruptcy, a court had to oversee the sale of 23andMe's assets. There were worries that the customer data could end up with the wrong people. Regeneron stepped in and said they would follow all the rules to keep the data safe.

The court will look at this deal on June 17. Regeneron made it clear that they won't be taking over 23andMe's Lemonaid Health business. This move by Regeneron could change how genetic data is used in the future. It raises questions about who owns our genetic information and how it should be protected. It is important to think critically about these issues. How much control do we have over our own genetic data? And how can companies use this information responsibly?

BANKRUPTCY AUCTION

A Big Shift in Genetic Testing: Regeneron Buys 23andMe

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