Dealbook is suggesting that Genentech Inc. may be preparing a joint offer for
Biogen Idec Inc., which put itself on the auction block this month. The crux
of any Genentech deal would be the two biotechs' shared rights to the
blockbuster cancer and autoimmune drug Rituxan. An acquisition of Biogen Idec
would trigger a legal agreement where Genentech could offer to buy exclusive
rights to Rituxan. Consequently, Genentech could help a smaller biotech fund
the purchase of Biogen Idec, thereby keeping the Cambridge, Mass., biotech out
of the hands of a pharmaceutical giant, which most Wall Street analysts
believe is the likely outcome. — Matthew Wurtzel
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