Roche Makes Offer to Acquire all of Outstanding Genentech Shares for $89.00 a Share in Cash

More business action with big pharma and the biotech industry, although Roche and Genentech already are invested together and have worked on conjunction on research projects. Roche acquired a majority in Genentech in 1990 and currently owns 55.9% of all outstanding shares. Roche will need to raise the necessary fund with debt financing. This just goes to confirm the large interest in biotech from the pharmaceutical business and it’s probably nowhere near done. BD

Just last week Roche was in the news in Europe for a suspension from the Association of the British Pharmaceutical Industry for 6 months. Genentech offices in San Francisco are to remain the as the headquarters. Media Press Release below. BD

Roche’s Palo Alto Virology research and development activities will relocate to South San Francisco, while its Palo Alto Inflammation group will become part of Roche’s Nutley, NJ research and development organization. Nutley will host two global Disease Biology Areas (Oncology and Inflammation) as well as key functions in Metabolism and will remain an important pillar for the U.S. and Roche’s global organization. With Genentech’s site in South San Francisco and Roche’s New Jersey-based campus, the U.S. will be home to the biggest research and development centers within the Roche Group.

Roche will host a media conference at its headquarters in Basel (Grenzacherstrasse, Research Building 92) on Monday, July 21 at 10:00 a.m. CET. The conference will be broadcast on www.roche.com. A replay of the webcast will be archived on the website.Roche also will host an investor meeting on Tuesday, July 22 at 10:00 a.m. EDT in New York. Webcast log-in and dial-in information is available on www.roche.com and www.transactioninfo.com/roche/.

There will be a webcast for the investment community on Monday, July 21 at 7:45 a.m.

CET / 1:45 a.m. EDT. A second webcast for the investment community will take place on Monday, July 21 at 2:00 p.m. CET / 8:00 a.m. EDT. Webcast log-in and dial in information is available on www.roche.com . A replay of the webcast will also be archived on the website.