Pharma BD Deal Intelligence

Roche Holding AG / Genentech, Inc.

2009 · Acquisition/Merger · $46.8B · Complete

Announcement Sentiment

Neutral / mixed

Outcome Score

Largely worked — most objectives met.

Roche acquired the 44% of Genentech it did not already own for $46.8 billion ($95 per share), making Genentech a wholly-owned subsidiary. The deal gave Roche full control of Genentech's blockbuster oncology portfolio including Avastin, Herceptin, and Rituxan, and its world-leading biologics R&D platform.

Did it work? Outcome assessment

Strategic verdict

Achieved Stated Rationale

Financial impact

Accretive

Pipeline outcome

Assets Advanced

Assessment window: 10yr post-close.

Key facts

Announced Mar 12, 2009
Closed Mar 26, 2009
Deal value $46.8B
Deal type Acquisition/Merger
Therapeutic area Immunology, Oncology, Ophthalmology, Respiratory
Indications Breast Cancer, Colorectal Cancer, Non-Small Cell Lung Cancer, Non-Hodgkin Lymphoma, Chronic Lymphocytic Leukemia, Rheumatoid Arthritis
Key assets Avastin (bevacizumab), Herceptin (trastuzumab), Rituxan (rituximab), Tarceva (erlotinib), Lucentis (ranibizumab), Xolair (omalizumab), Pulmozyme (dornase alfa)
Mechanism Anti-VEGF monoclonal antibody, Anti-HER2 monoclonal antibody, Anti-CD20 monoclonal antibody

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