The incoming CEO of Roche [1] says he hopes that the company's partnership with Alnylam will create a "second Genentech [2]" in the U.S. for the pharma giant. Alnylam opens up a "new front" in biotech, says Severin Schwan. Roche is paying $331 million up front [3] to gain access to Alnylam's drug discovery technology. It's another sign of the steady convergence of biotech and pharma, with a product-hungry pharma world looking to biotechnology companies to supply the products of the future. It's also a key indicator of the thriving market for new deals.
- read the AFX report [4] for more information
Relate Articles:
Roche shakes up R&D, eyes new buyouts. Report [5]
Roche harnesses Alnylam's RNAi tech in $1B deal. Report [3]
Genentech touts pipeline as doubts fester. Report [6]
Links:
[1] http://www.fiercebiotech.com/story/schwan-takes-helm-of-roche-in-surprise-move/2007-07-19
[2] http://www.fiercebiotech.com/story/genentech-fights-to-keep-edge-in-drug-development/2007-06-11
[3] http://www.fiercebiotech.com/story/roche-harnesses-alnylam-s-rnai-tech-in-1b-deal/2007-07-09
[4] http://www.forbes.com/afxnewslimited/feeds/afx/2007/07/22/afx3938783.html
[5] http://www.fiercebiotech.com/story/roche-shakes-up-rd-eyes-new-buyouts/2007-02-07
[6] http://www.fiercebiotech.com/story/genentech-touts-pipeline-prospects-as-doubts-fester/2007-06-28