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Roche Gets Genentech in $46.8B Biotech Deal

By Harry Kimball,  Newser Staff

Posted Mar 12, 2009 6:00 AM CDT

(Newser) – Swiss drug giant Roche has succeeded in its quest to own biotech firm Genentech outright, and will purchase the 44% of shares it does not already own for $95 each, the San Francisco Chronicle reports today. The $46.8 billion deal comes after months of haggling, wherein Roche offered as little as $86.50 for shares Genentech valued at $112. Roche pledges to maintain Genentech’s San Francisco campus.

A Genentech researcher works on an experiment.
A Genentech researcher works on an experiment.   (AP Photo)
Severin Schwan, CEO of Roche.
Severin Schwan, CEO of Roche.   (AP Photo)
Genentech headquarters in South San Francisco, Calif.
Genentech headquarters in South San Francisco, Calif.   (AP Photo)
Roche's headquarters in Basel, Switzerland.
Roche's headquarters in Basel, Switzerland.   (AP Photo)
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