Roche buying Seragon in US for up to $1.7 billion

Associated Press |

GENEVA (AP) — Roche Holding AG says its U.S.-based biotech company Genentech has agreed to acquire American biotechnology firm Seragon Pharmaceuticals, Inc. for up to $1.725 billion in cash and contingency payments.

The Basel, Switzerland-based pharmaceutical giant, which is the world's biggest manufacturer of cancer drugs, says the deal will give Genentech rights to Seragon's portfolio of oral drugs under development to treat certain kinds of breast cancer.

Roche said Wednesday that the acquisition — 725 million in cash and up to $1 billion in payments contingent on certain "milestones" — is expected to be completed in the third quarter of 2014 after regulatory approval is obtained.

Richard Scheller, a Genentech vice president, said the oral drugs being investigated "could one day redefine the standard of care for hormone receptor-positive breast cancer."

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:


Symbol Name Price Change % Volume
SNYL Sunnylife Global Inc 0.00 0.00 0.00 0


Emerging Growth

Veritas Pharma Inc.

Veritas Pharma Inc, formerly Seashore Organic Medicine Inc is an emerging producer and distributor of medical marijuana.

Private Markets


The spark hit Jamie when he saw co-workers competing to lose weight. Instead of pizzas and subs, they were eating salads and jogging along the river. Some were sneakily leaving…


Lyft matches drivers using their own personal vehicles with passengers who request rides through the smartphone app, and the passengers pay automatically through the app. When using Lyft, passengers have…