Roche's proposal to acquire all outstanding shares of Genentech [1] is being viewed as a model marriage of a Big Pharma company focused on molecular diagnostics and a Big Biotech company designing new genetic therapies for an era of personalized medications.
The $43.7 billion offer is seen as a bold move by Roche's new CEO, Severin Schwan [2] (photo [3]). And Schwan is insisting that the offer has nothing to do with finding ways to bolster profits through cost-cutting maneuvers.
"Now is a good time to take Genentech private,'" Schwan told BusinessWeek in a telephone interview. "This transaction is about strengthening innovation; it is not about cost-cutting."
- read the article [4] from BusinessWeek
Related Articles:
Will Roche up its $44B ante for Genentech? [1]
Genentech - Big Biotech's Stock Report [5]
Genentech, Roche rise on cancer sales [6]
Roche suffers as big drugs falter [7]
Genentech explores biologics, small molecules [8]
Development chief outlines strategy at Genentech [9]
Links:
[1] http://www.fiercebiotech.com/story/will-roche-its-44b-ante-genentech/2008-07-21
[2] http://www.fiercebiotech.com/story/schwan-takes-helm-roche-surprise-move/2007-07-19
[3] http://www.fiercebiotech.com/story/image-roche-ceo-be-severin-schwan/2007-11-02
[4] http://www.businessweek.com/globalbiz/content/jul2008/gb20080721_780237.htm
[5] http://www.fiercebiotech.com/special-reports/genentech-big-biotechs-stock-report
[6] http://www.fiercepharma.com/story/genentech-roche-rise-cancer-sales/2007-10-16
[7] http://www.fiercepharma.com/story/pfizer-roche-suffer-as-big-drugs-falter/2008-04-17
[8] http://www.fiercebiotech.com/story/genentech-won-t-stop-boundary-between-biologics-small-molecules/2008-07-08
[9] http://www.fiercebiotech.com/story/research-chief-outlines-development-strategy-genentech/2008-06-12