Roche Wins Genentech After Months-Long Battle
This article was originally published in The Pink Sheet Daily
Executive SummaryThe hard task of integration—and the battle to retain Genentech employees—begins, while the DNA ticker symbol is up for grabs.
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The Internet search and advertising giant has tapped Genentech and Apple chairman Art Levinson to lead a new initiative that will explore aging and related diseases. Google will invest an undisclosed amount to launch the latest Silicon Valley-funded effort to extend human longevity.
Roche’s CEO Severin Schwan says the Swiss group’s recent revamps, lack of patent expiries, and ongoing drug innovations give the world’s largest maker of cancer drugs a strong position to expand its sales globally, helped by new cutting-edge therapies and creative business approaches.
Two years after a painful restructuring to offset product setbacks and downward pressure on drug prices and three years after buying California-based biotech Genentech, Roche of Switzerland says it is fighting fit again, armed with a fully-laden pipeline and poised for new launches that increasingly focus on personalized health care.