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Shares of biotechnology firm Vysis Inc. soared more than 20 percent Thursday on news that Abbott Laboratories will distribute two of its cancer detection tests.
The deal is a boon for Vysis, a small Downers Grove, Ill.-based biotech company, providing a strong endorsement of its products, officials said. Abbott has exclusive rights to distribute Vysis' DNA-based tests for bladder and breast cancers to thousands of doctors and hospitals in North American and Europe.
The agreement also gives Abbott an exclusive option to distribute the tests _ Vysis' PathVysion HER-2 assay for breast cancer and UroVysion test for bladder cancer _ in South America and the Asian …