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Roche bids for all of Genentech

Roche bids for all of Genentech
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Roche is offered to acquire the 44% of the shares that it does not already own of its US partner Genentech. The Swiss drugmaker would pay a total of 27.5 billion euros in cash. The idea is to strengthen its position in cancer medicines.

Analysts said Roche may have to offer more to succeed in acquiring Genentech. Roche’s shares fell 4.8% while Genentech’s shares rose in the United States. At the same time Roche said its first-half net profit fell 2% due to lower sales of influenza drug Tamiflu and the weak US dollar but it did beat forecasts.