February 03, 2009 at 09:20 AM EST
Roche Drops Genentech Bid to $41 Billion, an Industrial Info News Alert

SUGAR LAND, TX -- (Marketwire) -- 02/03/09 -- Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas) -- Thanks to the prescience of venture capitalist Robert A. Swanson, who ignored naysayers and glimpsed the vast commercial potential in the recombinant DNA technology pioneered by Dr. Herbert Boyer, the two men met and formed Genentech (NYSE:DNA) (South San Francisco, California) in 1976. It was one of the industry's earliest successful "marriages" between money and science. Fast forward three decades or so and the company now has another suitor in the form of Swiss pharmaceuticals giant Roche. But what started out last year as a friendly offer from a major shareholder has grown to more resemble an acrimonious custody battle over the company's remaining shares.

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Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services. For more information send inquiries to pharmabiogroup@industrialinfo.com or visit us at www.industrialinfo.com.

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