The Burrill Report: Roche Turns Up The Heat On Genentech (.MP3,9.18 Mb)
Back in July, the Swiss pharmaceutical company Roche offered $43.7 billion, or $89 a share, for the 44 percent of Genentech it doesn’t already own. Since then, talks have not progressed well. Roche last week said it would launch a hostile bid for the company at $86.50 – less than it originally offered. Genentech, which has told Roche it’s worth $112 a share, asked its shareholder not to act on the bid. But with the latest maneuvering by Roche came filings with the U.S. Securities and Exchange Commission that shed new light on the behind the scenes wrangling between the two companies. We spoke to TheStreet.com’s senior columnist Adam Feuerstein, who is also responsible The Street’s investment newsletter Biotech Select, about the emerging drama between the two companies and where it will all end.