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Roche Offers $43.7 Billion for Shares in Genentech It Does Not Already Own
Summary from United States, from articles in English
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The deal risks disrupting the culture at Genentech that even Roche has said helped account for the success of the California biotechnology company in bringing innovative new drugs to market. (article 3)
Drugs developed by Genentech, particularly the cancer medicines Avastin, Rituxan and Herceptin, accounted for nearly a third of Roche's overall 2007 sales of 46.1 billion Swiss francs ($45 billion). (article 3)
Shares of Genentech rose $12.06, or 15 percent, to $93.88 Monday, a sign that investors expect Roche will be forced to raise its bid beyond the $89 a share it offered. (article 3)
That would be the end of an agreement that now gives Roche the option to sell Genentech products outside the United States. (article 3)
Franz B. Humer said in an interview Monday that the acquisition of Genentech would " secure the access to Genentech's products beyond 2015. (article 3)
" The combined entity will be the seventh-largest U.S. pharmaceuticals company in terms of market share Roche said in a statement from its headquarters in Basel, Switzerland. (article 1)
With the dollar weak and stock prices slumping, many foreign firms see this as a good time to gain access to American brands, consumers and talent by taking over prominent U.S. companies. (article 8)
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Event tracking:
Story keywords
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Roche, Genentech, Humer, Biotech, company |
Source articles
- Roche offers $43.7 billion for Genentech's outstanding shares (L.A. Times, 07/22/2008, 492 words)
- Article:Swiss drugmaker Roche bids to buy Genentech:/c/a/2008/07/21/BU7R11SJNQ.DTL (sfgate.com, 07/22/2008, 1200 words)
- Roche Offers $43.7 Billion for Shares in Genentech It Does Not Already Own (nytimes.com, 07/22/2008, 695 words)
- Genentech mulls Roche offer as stock surges (Washington Post, 07/22/2008, 424 words)
- Roche offers to buy out Genentech for $43.7 billion (Washington Post, 07/21/2008, 341 words)
- Roche offers $43.7B for rest of Genentech (Washington Post, 07/22/2008, 424 words)
- Roche seen likely to raise bid for Genentech (Washington Post, 07/21/2008, 355 words)
- U.S. firms' attraction abroad is growing (sfgate.com, 07/22/2008, 749 words)
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blaster@cs.columbia.edu
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