Roche may have the wherewithal to bid for Alexion and an appetite for the company's rare-disease drugs. But it might not have the stomach for the price.
Shares of the rare disease drug specialist Alexion spiked 18% this afternoon after Bloomberg reported that Roche has been putting out feelers to raise cash for a big buyout. The spike put Alexion's market cap at $23 billion, up $3 billion, making this potentially the biggest proposed deal of the year, dwarfing Amgen's $10 billion play for Onyx.
In May, the FDA approved Roche's diagnostic test for its cancer drug Tarceva, saying it was the first approved to detect EGFR mutations, and today the FDA today approved a new targeted lung cancer drug from Boehringer Ingelheim and its companion test that can detect the same mutation.
Once again, Roche's pRED group has a big Phase III snafu to answer for. The Basel-based R&D side of the pharma giant--distinct from the gRED operations at Genentech--has pulled the plug on the diabetes drug aleglitazar, once tapped as a blockbuster hopeful.
A California oncologist and his practice have pleaded guilty and are coughing up $3.4 million for buying drugs from a source in Canada that were not approved by the FDA.
Roche is aiming to make its human papillomavirus test a first-line diagnostic for cervical cancer, with a new FDA application for the Cobas HPV as a substitute for Pap tests.
Roche is working to make its HPV test a first-line solution for cervical cancer testing, submitting new data to the FDA in hopes of widening its market share in diagnostics.
Roche's heir to the mega-blockbuster cancer drug Rituxan has been put on the inside regulatory track at the FDA, earning priority review status on top of a breakthrough drug designation that is intended to speed a final marketing decision at the FDA.
The world's biggest drugmakers are hiring--even in the U.S. and Europe. As Genetic Engineering & Biotechnology News numbers show, the three most active recruiters have more than 5,000 positions to fill between them.
Roche Diagnostics is looking to up its stake in blood testing world, spending $220 million for Constitution Medical Investors, a Boston-based hematology specialist.