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

More in News

Five things for Pharma Marketers to know: Friday, August 29

Five things for Pharma Marketers to know: Friday, ...

Takeda closes out a good-news, bad-news kind of week, AstraZeneca adds a new clinical trial for its experimental PD-1, and researchers link a funeral to the Ebola outbreak.

Amgen sends PCSK9 to FDA

Amgen sends PCSK9 to FDA

Evolocumab holds the FDA's first filed biologics license application for the class.

Consultants expect M&A tempo to continue

Consultants expect M&A tempo to continue

PwC anticipates that divestitures will fuel late-2014 deals, but notes that the noise around early deals and the financials don't fully match up.