Roche won't budge on $3 billion Ventana offer

Hubris can take you a long way in any business, and Roche CEO Franz Humer [1] has plenty to spare. He's been telling the Financial Times that hedge funds have moved in to acquire shares of Ventana, the diagnostic test maker that Roche has firmly set its sights on as it builds up its diagnostics division into a global powerhouse. That's driven up Ventana shares to $85, well past Roche's $75 bid. But Humer has no plans to boost his $3 billion bid, saying that Roche will win out in the end. In an interesting side note, Humer added that he's cooled toward India as questions over IP protection have been raised in recent months. That puts China in the lead [2] as a comer in drug development circles.

- here's the report [3] from the Wall Street Journal

ALSO: Ventana, meanwhile, is sticking to its knitting. The company says it will work with the Critical Path Initiative in Arizona to develop standards and an evaluation process for companion diagnostics. Report [4]

Related Articles:
Roche asks, Ventana says no...again. Report [5]
Roche wins round in battle for Ventana. Report [6]
Roche note opens door to a higher Ventana bid. Report [7]
Ventana spurns Roche's $3B hostile takeover bid. Report [8]
Drug, diagnostic combos are the future. Report [9]

Read more on: Roche [10] | Diagnostics [11]