LONDON, Sept 17 (Reuters) – Roche Chief Executive
Severin Schwan likes to crack open the champagne with his drug
research teams at the end of a big project – especially when
As the boss of one of the world’s most successful
pharmaceutical companies, whose leading position in cancer
treatments has propelled its market value to more than $250
billion, it might seem a strange response.
LONDON (Reuters) – Roche’s (ROG.VX: Quote, Profile, Research, Stock Buzz) decision to buy U.S. biotech company InterMune (ITMN.O: Quote, Profile, Research, Stock Buzz) for $8.3 billion last month was “exceptional” and not a sign of more ambitious plans for major acquisitions, the Swiss drugmaker’ s chief executive said on Tuesday.
Damping down expectations that Roche could embark on a series of such multibillion-dollar deals to bolster its presence in the treatment of rare diseases, Severin Schwan told Reuters there was no change in the company’s M&A strategy or its likely pace of deal-making.
LONDON (Reuters) – AstraZeneca has signed a partnership deal with U.S. rival Eli Lilly that could earn the British company up to $500 million if a promising – but risky – experimental Alzheimer’s drug proves successful.
AstraZeneca said in May that it was looking to find a partner for its so-called BACE inhibitor drug called AZD3293, which is set to enter late-stage Phase III clinical testing against Alzheimer’s.