Abbott Laboratories has agreed to purchase Exact Sciences Corp. for $21 billion, offering shareholders $105 per share. Exact Sciences, known for cancer screening tests like Cologuard, anticipates generating $3 billion in revenue this year. The deal is set to close in the second quarter of next year, boosting Exact Sciences’ stock by 17%. Globally, the cancer screening market is valued at over $100 billion and is projected to grow 6-8% annually. Shares in Exact Sciences rose 17% to nearly $101, while Abbott’s stock declined by 2%.

Read more at Yahoo Finance: Why the Stock Price of This Cancer Screening Company Soared 17% Thursday