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.
TGA acts on melatonin imports with infringement notices totalling $99K
Laboratory testing of several imported unregistered melatonin products has confirmed them to be...
Scientists search for cystitis pain 'off switch'
By targeting certain pain receptors in the bladder, Australian scientists believe that the...
Australia's first cases of H5 avian influenza confirmed
Positive results for H5 avian influenza (bird flu) have been confirmed in two seabirds found in...
