Roche buying Seragon in US for up to $1.7 billion

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."

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Recommended for you

A new tool in drug overdose prevention

2 hours ago

The Center for Disease Control reported earlier this month that the heroin overdose death rate across 28 states it surveyed doubled between 2010 and 2012. This sharp increase and the chilling statistics that say more than 11 ...

Nasal spray treats heroin overdose

Oct 28, 2014

"Every year, drug overdoses are responsible for roughly 1000 ambulance calls in Oslo," says Arne Skulberg, an anaesthesiologist, a PhD candidate at NTNU and the 2014 winner of Norway's Researcher Grand Prix ...

User comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.