Roche/Genentech

Executive Summary

Federal Trade Commission vote on Aug. 31 consent agreement allowing Roche to acquire 60% of Genentech was 3-2, with Commissioners Terry Calvani and Deborah Owen dissenting. Calvani said he would have voted yes if agreement, as recommended by FTC staff, "also provided relief" from potential anticompetitive effect of "gamma interferon and recombinant DNA products under development by Roche." Agreement calls for Genentech to divest interest in vitamin C and Roche to license CD4 in the U.S. and divest human growth hormone-promoting factor ("The Pink Sheet" Sept. 3, T&G-1). Consent agreement appeared in Sept. 17 Federal Register for 60-day comment period.