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 equities.com. 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: http://www.equities.com/disclaimer

Companies

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

Comments

Emerging Growth

Lomiko Metals Inc.

Lomiko Metals Inc is an exploration stage company. It is engaged in the acquisition, exploration and development of resource properties. Its projects include Vines Lake project and Quatre - Milles…

Private Markets

Quants Inc

Quants, Inc, a California Corporation, develops, markets and operates financial technology platforms and alternative investment products offering sophisticated risk management since 2010. The Company has primarily sharpened its focus with…

Cross Campus

With over 500 members and operating 80,000 square feet by summer 2016, Cross Campus is one of the country’s top ten shared, collaborative office or "coworking" operators in the US.…