Roche Pays $46.8 Billion for Genentech—Now Sole Owner of Herceptin!
When Roche Holding AG (RO) of Basel, Switzerland, announced last month that it had an agreement to buy Genentech Inc. (DNA) of South San Francisco, California, it was big news. Roche had pursued the innovative drug maker since July with the primary goal of gaining access to the drugs in Genentech’s pipeline.
On March 11, Roche got the support of Genentech’s board to pay $95 per share to buy the 44% of the company it doesn’t already own. One intriguing reason why Genentech was so attractive to Roche is that the California company has a line of products and biomarkers that fit almost seamlessly with what Roche already offers, including Herceptin, HER2/neu assays, and biomarkers useful for both companies.
