Roche keen to complete financial agreement with Genetech

Roche wants to proceed and complete all necessary financing with Genentech, it has been asserted.

Franz B Humer, chairman of the firm, explained the former had been in conversations with shareholders from the latter.

As a result, Roche is now increasing its offer price for all outstanding publicly-held shares of Genetech to 93 cents (65 pence).

The deal will be extended to 12:00 local time in New York on March 20th 2009, but all other terms and conditions of the tender will remain the same.

Mr Humer commented: “We believe that there is a strong sentiment to bring this process to a conclusion.”

He concluded by noting he looks forward to completing the transaction successfully.

Last month, the company announced that a medication it had developed for patients with chronic lymphocytic leukaemia, MabThera, had been approved by the European Commission.

Roche is a research-focused healthcare group that focuses on pharmaceuticals and diagnostics.

With its headquarters in Basel, Switzerland, the company works in areas looking at autoimmune diseases, inflammatory and metabolic disorders and illnesses of the central nervous system.