Roche Holding AG Chairman Franz Humer may have put a lid for now on a year’s worth of speculation by telling a Swiss newspaper that a Roche deal to buy U.S. genetics company Illumina Inc. is off the table. Illumina shares fell the most in 15 months.
Illumina Inc. gained the most in almost a year after Swiss newspaper L’Agefi said Roche Holding AG may have agreed to buy the U.S. maker of DNA sequencing equipment at a price 48 percent higher than its original unsuccessful bid.
Roche Holding AG’s $6.7 billion public bid to buy Illumina Inc. stopped the gene-sequencing company’s board from discussing what price would be acceptable and may have scuttled a possible deal, according to Chief Executive Officer Jay Flatley.
Spain’s pharmaceutical lobby is negotiating with authorities a plan to sell state-guaranteed securities backed by 5.4 billion euros ($7.1 billion) of unpaid bills, Farmaindustria Director General Humberto Arnes said.
Roche Holding AG may get the first signs at a cardiology conference this month that the Swiss drugmaker can garner $6.8 billion in sales with a pill to combat heart disease by raising so-called good cholesterol.