Quick Take: BGI Says It Will Slash Cost of Gene Testing to $300

Chinese gene testing firm BGI Genomics Co. vowed to halve the cost of its gene sequencing service to $300 per person, but this might not be enough to close the gap between it and U.S. competitor Illumina Inc. in both pricing and efficiency.

The company is working toward being able to finish an individual’s whole genome sequencing within 24 hours and limit the price to $300 by 2020, BGI CEO Yin Ye said Thursday at the J.P. Morgan Healthcare Conference in San Francisco.