Genentech buyout still on Roche's to-do list

Roche hasn't lost its appetite for a proposed multibillion-dollar acquisition of Genentech. The pharma giant reaffirmed its bid for the biotech company as it outlined how its nine-month revenue figures had slipped two percent in Swiss francs.

The numbers help explain precisely why Roche remains an avid suitor. Cancer drugs are pumping money into the company. Avastin posted a 37 percent increase in revenue while Tarceva sales jumped 24 percent. MabThera/Rituxan (rituximab) for non-Hodgkin's lymphoma grew 16 percent to 4.3 billion francs, while sales of Herceptin (trastuzumab) were up 12 percent to 3.8 billion francs.

"I would like to reaffirm that we remain committed to the deal and we aim for a negotiated settlement," said CEO Severin Schwan (photo) about Roche's bid for the 44 percent stake in Genentech it doesn't already own. Schwan, though, was mum on the details.   

- read the report from PharmaTimes

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