Article

Roche proposal to be reviewed by Genentech

Genentech has formed a special committee of its board of directors to assess the proposal from Roche to acquire all of the outstanding shares of Genentech stock not owned by Roche at a price of $89 in cash per share.

Key Points

South San Francisco, CA-Genentech has formed a special committee of its board of directors to assess the proposal from Roche to acquire all of the outstanding shares of Genentech stock not owned by Roche, at a price of $89 in cash per share. Roche is Genentech's majority shareholder, owning more than 50% of the company.

The special committee members are Genentech's three independent directors: Herbert W. Boyer, PhD; Debra L. Reed; and Charles A. Sanders, MD.

"The special committee intends to proceed in a timely manner to review the Roche proposal, which was both unsolicited and unexpected," said Dr. Sanders, who also is chairman of the special committee. "The outcome of this process has not been pre-determined, and there can be no assurance that the special committee will approve any transaction with Roche."

Under the affiliation agreement between Genentech and Roche, neither Genentech nor the special committee has any obligation to agree to the transaction. The agreement also does not obligate Genentech or the special committee to agree to any specific process or any price based on valuation assessments provided by investment banks.

The offer was sent to Genentech's three independent directors in July, and a prepared statement issued by Roche also outlined that Genentech's unique research culture would be maintained, stating that the South San Francisco site would operate as an independent research and early development center and become the headquarters of the combined U.S. commercial operations.

In reaction to the proposed buyout, analysts have stated publicly that the price offered by Roche is inadequate and that they suspect that Genentech is worth in excess of $100 per share.

Newsletter

Don’t miss out—get Ophthalmology Times updates on the latest clinical advancements and expert interviews, straight to your inbox.

Related Videos
(Image credit: Ophthalmology Times)  ASCRS 2025: Joaquin De Rojas, MD, leverages machine learning model to predict arcuate outcomes
(Image credit: Ophthalmology Times) ASCRS 2025: AnnMarie Hipsley, DPT, PhD, presents VESA for biomechanical simulation of presbyopia progression
Shehzad Batliwala, DO, aka Dr. Shehz, discussed humanitarian ophthalmology and performing refractive surgery in low-resource, high-risk areas at the ASCRS Foundation Symposium.
(Image credit: Ophthalmology Times) ASCRS 2025: Advancing vitreous care with Inder Paul Singh, MD
(Image credit: Ophthalmology Times) The Residency Report: Study provides new insights into USH2A target end points
Lisa Nijm, MD, says preoperative osmolarity testing can manage patient expectations and improve surgical results at the 2025 ASCRS annual meeting
At the 2025 ASCRS Annual Meeting, Weijie Violet Lin, MD, ABO, shares highlights from a 5-year review of cross-linking complications
Maanasa Indaram, MD, is the medical director of the pediatric ophthalmology and adult strabismus division at University of California San Francisco, and spoke about corneal crosslinking (CXL) at the 2025 ASCRS annual meeting
(Image credit: Ophthalmology Times) ASCRS 2025: Taylor Strange, DO, assesses early visual outcomes with femto-created arcuate incisions in premium IOL cases
(Image credit: Ophthalmology Times) ASCRS 2025: Neda Shamie, MD, shares her early clinical experience with the Unity VCS system
© 2025 MJH Life Sciences

All rights reserved.