Roche holds the line at $3 billion bid for diagnostics firm

Share this article:

Roche won't raise its $3 billion hostile bid on Ventana Medical Systems, chairman Franz Humer told Bloomberg News.

Roche's bid is one of the biggest in biotech for recent years, surpassed only by AstraZeneca's $15.6 billion acquisition of MedImmune, completed in June, Merck KGaA's $13.3 billion acquisition of Serono in 2006 and Novartis' $5.1 billion purchase of the remaining 58% of Chiron shares in 2005.

 The acquisition of Ventana would bolster Roche's own diagnostics division and give the firm access to an important companion diagnostic. Ventana's rabbit monoclonal antibody, PATHWAY HER-2/neu (4B5), won FDA approval in January for use as an aid in the assessment of prospective Herceptin patients with breast cancer. Herceptin is manufactured by Roche's Genentech BioOncology.

Roche's Humer told Bloomberg he was confident Ventana would “come around and see the attractiveness of our offer.” Ventana CEO Chris Gleeson told Bloomberg “We've said $75 [per share] is a non-starter. The market agrees with us.”

As of this morning, Ventana's stock had slid a meager .48% to $82.61 on the NasdaqGS.

Share this article:
You must be a registered member of MMM to post a comment.

Email Newsletters

MM&M EBOOK: PATIENT ACCESS

Patient access to pharmaceuticals is a tale of two worlds—affordability has improved for the majority, while the minority is hampered by cost, distribution and red tape. To provide marketers with a well-rounded perspective, MM&M presents this e-book chock full of key insights. Click here to access it.

More in Channel

Five things for pharma marketers to know: Monday, September 15

Five things for pharma marketers to know: ...

Pharma has sought 76 meetings with FDA over biosimilars; Gilead licenses Sovaldi to India generic drugmakers; Pfizer and Ranbaxy Lipitor lawsuit dismissed.

Liraglutide, aiming for new indication, gets new name

Liraglutide, aiming for new indication, gets new name

Why Novo Nordisk is choosing not to leverage Victoza's brand equity as it seeks a weight-loss indication for liraglutide.

Five things for pharma marketers to know: Friday, September 12

Five things for pharma marketers to know: Friday, ...

An FDA panel voted in favor of liraglutide for weight loss; Allergan investors backing an attempted takeover of the firm crossed a critical threshold; and 100 million health wearables are ...