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

30.03.2012

Basel/Hinxton (UK) – Two European teams have created huge repositories of cancer genomics data that help predict drug response. Swiss Novartis and the Boston-based Broad Institute have combined data obtained from large-scale...

SwitzerlandSwitzerland

27.03.2012

London/Lausanne – The global private equity firm Celtic Therapeutic L.L.L.P. believes in the power of antibody-drug conjugates (ADCs). It is investing $50m in a new Switzerland-based company called ADC Therapeutics Sarl which...

SwitzerlandSwitzerland

26.03.2012

Basel/Vienna - Following promising results from a Phase III study, Roche has submitted a regulatory application to EMA for subcutaneous Herceptin (trastuzumab) to treat HER2-positive breast cancer. Roche said subcutaneous...

SwitzerlandSwitzerland

09.03.2012

After the US Food & Drug Administration forced Swiss generics giant Sandoz AG to update its production facilities in Quebec, there are now fears that supplies of some medicines could grow tight in Canada. The regulatory authority...

SwitzerlandSwitzerland

08.03.2012

The hepatitis C space has seen a string of large deals in the last weeks that include a US$11bn buyout of Pharmasset by Gilead. Now Novartis is also trying to get in the game with the purchase of a global exclusive licence from...

SwitzerlandSwitzerland

06.03.2012

Allschwil – Swiss Actelion Ltd. has strengthened its commercial offerings by securing rights in certain countries to Auxilium’s biotech drug Xiaflex for treating tissue buildup under the skin. The US pharma is to receive US$10m...

SwitzerlandSwitzerland

06.03.2012

Zug – Life Sciences specialist HBM partners has raised €90m in the first close of its HBM BioCapital II fund, which will invest in revenue-generating companies in the pharmaceuticals, medical device and diagnostics sectors....

SwitzerlandSwitzerland

05.03.2012

Stans – Mondobiotech, a drug discovery company in troubled waters, could soon be under Italian ownership: The Swiss biotech announced it has entered into exclusive negotiations with Milan-based provider of pharmaceutical and...

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