New York, January 25 (FinanceEnquiry.com) - A hostile offer of $5.7 billion was made on Tuesday by Swiss drug giant Roche Holdings Ltd. for acquiring DNA sequencing company, Illumina Inc. (NASDAQ: ILMN). Its earlier offer, in the beginning of the month, of $40-a-share offer was rejected by Illumina. In its present offer, Roche has increased its bid to $44.50 a share in cash, which represents about 18 percent premium to Illumina’s share price of $37.69 as of Tuesday’s close. The hike in offer is symbolic of the growing interest in the competitive field of gene sequencing.

As part of gene sequencing, Illumina makes tools for DNA sequencing and other tests, with which researchers and drug companies are able to analyze genes and study genetic variations and functions. It is a major player in the upcoming sphere of biotechnology, in which many healthcare companies have made heavy investments with the aim of finding a treatment for a patient based on his or her genetic makeup.

Experts feel that eventually it will be possible to guide prevention and treatment of illness in a person by using his/her genetic code. Illumina is involved in making machines that map a person’s genetic makeup. The company has so far spurned the offers of Roche.