SwitzerlandSwitzerland

Roche makes a US-$5.7bn hostile bid for Illumina

26.01.2012

Basel – The rumours started just before Christmas. Roche wants Illumina. Just how dearly, has just become clear. The Swiss drugmaker made a $5.7b hostile bid for Illumina, the current market leader in Next-Generation sequencing. Roche is offering $44.5 per share in cash, a 64% premium over Illumina’s stock value on December 21, 2011. Illumina is the leading vendor of the 2nd generation DNA sequencing machines. The combination of Roche's/454's long-read pyrosequencing technology with Illumina's high throughput capabilities would secure Roche a monopoly in the key technology of sequencing-based diagnostics. Roche says it was forced to go hostile after Illumina's board failed to warm to its repeated overtures.
The takeover would not only make Roche the biggest seller of sequencing machines but also speed the development of sequencing-based routine clinical and companion diagnostic tests.
Illumina's response to the offer was not one of unbridled joy. It “will thoroughly review Roche’s proposal and make a recommendation to stockholders in due course”, the company said.
Roche said it expected the worldwide DNA sequencing market to grow from to more than $2 billion by 2015 from about $1.2 billion now. But at the same time the yields in the business are continuously squeezed.
Earlier this month Ion Torrent, a division of Illumina's competitor Life Technologies, announced it would present a tabletop machine that is able to sequence a person's whole genome for just $1,000 at the end of the year. Illumina quickly retorted that it has reached the 1,000 dollar level as well.

SwitzerlandSwitzerland

21.02.2012

Basel/Berkeley – Europe enters into the age of personalised medicine. The European Commission has approved the melanoma drug Zelboraf. While the compound was developed by US-based Plexxikon Inc., owned by Daiichi Sankyo Group,...

SwitzerlandSwitzerland

23.01.2012

Basel – Good and bad news for Swiss drugmaker Novartis. First a look on the bright side: Signifor, for the treatment of Cushing's disease, is on its final stretch to approval. The Committee for Medicinal Products for Human Use...

SwitzerlandSwitzerland

19.12.2011

Basel - It is a further push for Roche's ambitions in medicine concerning the treatment of skin cancer: The European Committee for Medicinal Products for Human Use (CHMP) has recommended that the drug Zelboraf and its companion...

SwitzerlandSwitzerland

17.12.2011

Allschwil – Europe’s largest stand-alone biotech company Actelion Ltd. is receiving an injection of fresh capital. Under the guidance of the two biggest Swiss banks – UBS and Credit Suisse – the Swiss company will be issued a...

SwitzerlandSwitzerland

14.12.2011

Stans – Due to the current financial market conditions and the lack of significant progress with currently available options, Swiss drug developer Mondobiotech says it will be implementing restructuring measures. Together with...

SwitzerlandSwitzerland

14.12.2011

Geneva – There's is life in Swiss biotechnology beyond big pharma. Genentech has launched a First-in-Human study with anti-IL-17, an antibody made by the Swiss biotechnology company NovImmune. The fully human monoclonal antibody,...

SwitzerlandSwitzerland

22.11.2011

Basel – The FDA has withdrawn the accelerated approval for Roche's Avastin (bevacizumab) to treat metastasising breast cancer. The US regulatory authority had originally granted accelerated approval for Avastin's use in treating...

SwitzerlandSwitzerland

16.11.2011

Basel/Hervel – It may be the end of Novartis' lucky streak in osteoporosis. While the once a year osteoporosis injection Aclasta (a bisphosphonate) sells well, the Swiss pharma company had to break disastrous news from a...

SwitzerlandSwitzerland

11.11.2011

Ghent/Geneva - Ablynx rides the biotech rollercoaster. Only days after US-pharma company Pfizer pulled out of a rheumatoid arthritis pact, the Belgian bipharmaceutical outfit expanded its relationship with Merck Serono. Ablynx...

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