Roche finally won its war of attrition for Ventana Medical Systems. The bid process was begining to resemble gestation, but Roche was finally able to get the deal done for $3.4 billion, or about $89.50 per share.
Roche is after PATHWAY, Ventana’s Her-2/neu monoclonal antibody test. PATHWAY will show which patients are likely to receive the greatest benefit from Roche’s breast cancer therapy Herceptin.
The initial offer from Roche last summer was about 20% below the current offer and Ventana announced that it would reject Roche’s move. The tug-of-war that ensued was both entertaining and distracting, but the completion of the deal will enhance Roche’s efforts in personalized medicine.
Roche is after PATHWAY, Ventana’s Her-2/neu monoclonal antibody test. PATHWAY will show which patients are likely to receive the greatest benefit from Roche’s breast cancer therapy Herceptin.
The initial offer from Roche last summer was about 20% below the current offer and Ventana announced that it would reject Roche’s move. The tug-of-war that ensued was both entertaining and distracting, but the completion of the deal will enhance Roche’s efforts in personalized medicine.