Roche's Ventana Medical Systems is building a new distribution center in Arizona and plans to generate additional jobs in the process.
The news that Roche struck a deal to buy InterMune for $8.3 billion reportedly came at the expense of Chugai's investors.
InterMune has already bet a big chunk of money on its idiopathic pulmonary fibrosis drug Esbriet (pirfenidone). Now, Roche is laying $8.3 billion on the table, too. The Swiss drugmaker agreed to pay $74 per share, in cash, for the biotech company, to add the lung treatment to its own respiratory stable.
Roche has won the behind-the-scenes auction for InterMune and its late-stage drug for idiopathic pulmonary fibrosis, announcing Sunday that it is buying up the U.S. biotech for $8.3 billion.
With M&A deals percolating around the global biopharma industry, investors bought in to the story anyway, driving up Chugai's stock price to record levels on the market buzz as fresh press reports added to the speculative frenzy.
Just last month Roche CEO Severin Schwan indicated he wasn't interested in mega-deals to build his company, only smaller, more targeted buys. Of course what is targeted and what is mega is in the eyes of the beholder. The Swiss drugmaker is reportedly in talks to buy up the 40% piece of Japanese partner Chugai Pharmaceutical it doesn't currently own. Price? $10 billion.
Roche is taking a hard look at partner Chugai Pharmaceutical, according to a report, considering whether to pay about $10 billion to buy the remaining shares of the company.
Gilead has successfully convinced a panel of arbitrators that competitor Roche has no legitimate claims on Sovaldi, its hep C blockbuster.
Gilead Sciences convinced an panel of arbitrators that rival Roche had no legitimate claims on Sovaldi, its record-setting hepatitis C treatment, but the antiviral pioneer still faces patent spats with a host of challengers looking to cash in on next-generation combo therapies for the disease.
After promising last month to fast track its review of Roche's Avastin in cervical cancer, the FDA has come back with a positive verdict--a full two months before its deadline. The agency approved the blockbuster drug to be used in combination with chemotherapy in women with advanced cervical cancer.