Report: Genentech and Roche near $46.7B deal

Genentech and Roche appear close to a buyout deal that would price Genentech shares at $95, according to a report in the Wall Street Journal. The price is $2 ahead of Roche's $93 offer last Friday. And sources say that a deal worth $46.7 billion could be announced at any time.

If accurate, a deal that gives Roche the remaining shares in Genentech it doesn't already own underscores just how valuable big biotech is these days. While smaller developers have struggled, the giants in the field have been designing ever-larger mergers and acquisitions. A pact would also end eight months of back-and-forth between the two companies, which are already closely allied.

- read the report in the San Francisco Chronicle

ALSO: An FDA panel is scheduled to meet at the end of this month to review Genentech's Avastin for use against brain cancer. Report

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