Genentech Rejects Roche Proposal
The American biotech giant Genentech, Inc. has rejected an offer by the Swiss drug-maker Roche to acquire the 44% of Genentech it does not already own, but said it would be willing to consider a higher bid.
The American biotech giant Genentech, Inc. (South San Francisco, CA) has rejected an offer by the Swiss drug-maker Roche (Basel, Switzerland) to acquire the 44% of Genentech it does not already own, but said it would be willing to consider a higher bid.
Genentech said Roche’s offer of $89 a share “substantially undervalues the company” and that it would consider an offer that “reflects the significant benefits that would accrue to Roche as a result of full ownership.”
Last month, Roche had made an offer to acquire all of the outstanding shares of Genentech stock not owned by Roche at a price of $89 in cash per share. Genentech had formed a special committee to review the proposal.
For more information on the Roche offer, see BioPharm’s previous news coverage.
The Solution Lies with SOLBIOTE™: Achieving Sustainability, a Growing Focus in Biopharma
October 28th 2024The nexus between biopharmaceuticals and sustainability is seemingly far apart, however, it is increasingly recognized as an inevitable challenge. It is encouraged to take a sustainable approach to reducing the environmental impact of the production and supply of medicines while improving people's health; delivering the well-being of people and the planet. Yosuke Shimojo (Technical Value Support Section Manager, Nagase Viita) will unveil how SOLBIOTE™, a portfolio of injectable-grade saccharide excipients, would be a key for the biopharmaceutical development and achieving sustainability for a better future of the industry.
