Genentech rejects Roche bid
Friday, 15 August, 2008
A special committee of US biotechnology giant Genentech’s board of directors has rejected a proposal by Swiss pharma Roche to buy out the company for US$43.7 billion.
Roche, which already owns 56 per cent of Genentech, was offering $89 per share for the remaining 44 per cent.
The Genentech directors said the offer undervalued the company but would consider a new proposal at a price it considered worthy.
Genentech’s stocks were trading on the New York Stock Exchange at close to $100 this week.
Common medications linked to adverse breast cancer outcomes
An international study has found concerning evidence about the impact of a range of common...
Saliva-based biosensor could improve heart failure detection
Scientists have created a biosensor that can rapidly detect the heart failure biomarker S100A7 in...
Melanoma-causing mutation can lie dormant in healthy skin
Researchers found many examples of the mutation in normal skin, including skin next to a mole and...
