Entries tagged "biotechnology"
At The Deal LLC's Healthcare Dealmaking Symposium, attorney Keith Pagnani commented on how the dealmaking landscape for biotechs is changing.
Swiss drug giant Roche Holding AG said Tuesday it's still committed to a "negotiated settlement" in its pursuit of Genentech Inc. The remark came from CEO Severin Schwan during the firm's quarterly earnings call. In July Roche bid $43.7 billion, or $89 a share, for the 44% it doesn't already own. Genentech's board said it was too low but left the door open to higher offers. ...
Biotech firm Cell Genesys Inc. said it's laying off 290 people, or 75% of staff, and possibly seeking a buyer. That's a big blow to the Bay Area biotech work force and probably the end of a company that had pushed its prostate cancer vaccine, GVAX, into the final stages of testing. But the firm decided to cut short the second of two trials because the drug wasn't helping patients survive. The drug was meant to work by stimulating the body's immune system to attack the cancer. ...
The fire sale continues at PDL BioPharma Inc. as the biotech company unloaded yet another asset Thursday, selling its antibody manufacturing facility to Danish biotechnology company Genmab A/S for $240 million. ...
