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

Discount generic drug programs grow over time

12 hours ago

Generic discount drug programs (GDDPs, which charge nominal fees to fill prescriptions) have grown over time and their initial lower use by racial/ethnic minorities has evaporated, writes author Song Hee Hong, Ph.D., of the ...

Seniors successfully withdraw from meds

Sep 19, 2014

Elderly people have proved receptive to being de-prescribed medications, as part of a trial aimed at assessing the feasibility of withdrawal of medications among older people.

User comments