The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Tag Archives: Genentech

Monday Biotech Deal Review: January 16, 2012

Welcome to your Monday Biotech Deal Review for January 16, 2012.   News from last week includes a  $5M raise by MedGenesis Therapeutics to support its therapeutic research for the treatment of Parkinson’s Disease, as well as a $70k private placement by PharmaGap.  Read on to learn more. 

Post-Vacation Brain Dump: Deal Developments

Some exciting deal news from the week: Neuromed, which licensed U.S. rights to its lead candidate Exalgo to Mallinckrodt after Merck dropped out, entered into an interesting stock-for-stock merger deal with Cambridge, MA-based CombinatoRx that we’ll discuss further in this coming Monday’s deal review. Paladin Labs made a deal with Wyeth for a bundle of products that [...]

Roche Tenderly Completes Genentech Deal

The results are in: 84.7% of Genentech’s publicly held shares were tendered and will be taken up by Roche Investments USA Inc. for $95 per share, bringing Roche’s stake up to 93.2% (96.2% with the guaranteed deliveries).  Just a short form merger away from done. Next challenge: integration without assimilation.

M&A! Hooray! Genentech’s and CV Therapeutics’ Dreams Come True

Seems like $95 per share was the magic number for Genentech, which finally succumbed to Roche’s persistent advances; and in other new news… CV Therapeutics‘ (Nasdaq: CVTX) found a White Knight in Gilead Sciences, which will pay $1.4 billion ($20/share), topping Astellas’ $16/share offer, which CV Therapeutics rejected a few weeks ago.  Pre-market trading is [...]

Roche-Genentech Update

Roche raised its bid to $93 per share, more than the $89 per share it started at, and considerably more than the $86.50 per share it had been proposing lately.  No substantive response yet from Genentech’s special committee.  Keep your eyes peeled for a new SEC filing here.

M&A Update 2

Here’s the latest collection of M&A news we’ve found since the last update.  No new mega-deals, although Sanofi is shopping in the €15 billion range and Roche sold $16 billion of debt (which has seen high demand in subsequent trading) in the largest offering ever to raise cash for its Genentech bid.  Also, CV Therapeutics‘ (Nasdaq: CVTX) Board [...]

M&A Update

Following our last update, there have been a considerable number of bio/pharma M&A developments, so to bring you up to speed

It’s Raining M&A

Pfizer-Wyeth is certainly the biggest headline (see here for info on those companies in Canada), but it seems like a very popular time to be shopping.

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