$45 billion for Genentech
Tuesday, 22 July, 2008
Swiss pharma giant Roche has offered to buy out the remaining 44 per cent of shares in US biotech Genentech for US$43.7 billion (A$45 billion).
Roche acquired a majority in Genentech in 1990 and currently owns 55.9 per cent of the San Francisco company, set up by biotech pioneer Herb Boyer in 1976. Genentech manufactures the blockbuster cancer drugs Herceptin and Avastin, among others.
Roche is offering US$89 per share in cash and is promising to respect Genentech's 'unique research culture' and headquarters.
Roche estimates that the combined entity will be the seventh largest US pharmaceuticals company in terms of market share and will generate more than US$15 billion in annual revenues.
Scientists uncover how cancer cells hide from immune system
By targeting the RNA helicase known as DDX6, scientists could enable the immune system to...
Vanillin flavouring in vapes may disrupt embryo development
Vanillin — a common flavouring chemical in e-cigarettes — may disrupt the normal...
Heart valve tissues created from stem cells
The breakthrough should help advance our understanding into how human heart valves develop,...
