Looks like you’re on the UK site. Choose another location to see content specific to your location

Home Industry News Roche completes Genentech acquisition

Roche completes Genentech acquisition

27th March 2009

Roche has completed its acquisition of Genentech.

The short-form merger means that latter is now a wholly-owned subsidiary of the former’s group.

On Wednesday March 25th, the Roche’s tender offer expired and the firm asserted it had been closed successfully.

Approximately 395.7 million shares (84.7 per cent) of Genentech’s stock were acquired by Roche and now, along with the 55.7 per cent of shared already held by the Swiss company, it holds 93.2 per cent of all outstanding shares.

Subject to appraisal rights, all remaining public shareholders will receive $95 (65.5 pounds) per unit that they own. This is in connection with the acquisition.

From yesterday (Thursday March 26th), Genetech’s common stock will no longer be traded on the New York Stock Exchange.

Earlier this month, Roche’s drug Herceptin was found to significantly prolong the lives of patients with HER2-positve stomach cancer when used alongside standard chemotherapy.

Scientists who conducted the investigation commented that the results mean the medication can be used as a treatment option for sufferers of the disease.

We currently have 5 jobs available in Pharmacy industry, find your perfect one now.

Stay informed

Receive the latest industry news, Tips
and straight to your inbox.