Don't kid yourself. Roche is smart. They paid very little in 1990 to gain a foothold with Genentech. They paid a lot in 2009 for the rest. However, Roche may not exist today without the success of Genentech and their products. Look at the percentage of Roche sales in 2008 and which products made up the majority of those dollars. Roche did get by investing and then staying out of the way. Now that they are running the show, it will be a failure.
And for the prior post on products, the Breast indication was gained under the Genentech watch and lost under Roche. hGH is a commodity but Nutropin was #1 in MS until Roche came in (really it was kent leigenger that screwed the pooch).
Come on, please stop the nonsense.
- First all Roche did not get a "FOOTHOLD" with Genentech in 1990, the bought the company (100% of the stock), and ran it as an independent operation.
- Yes, due to the growth of the stock price, roche sold about half the stock, along the way, and repurchased in 2009. They maintained majority ownership throghout.
- Yes, "Genentech" drugs made up a significant portion of 2008 Roche profits. So what! Roche owned Genentech, and they were entitled to the drugs.
- Roche, with or without Genentech, had many billions of dollars in profits, and would have been a top 10-15 drug company anyway, thats just a fact.
- You assert that Roche wouldnt exist without Genentech; your logic is faulty. The opposite is likely true thogh. Without the billions in investments to genentech, there likely would have not been the money for R&D, and Avastin etc would not even exist. There is a reason that Genentech accepted the investment, THEY NEEDED THE MONEY.
- Clearly you do realize that ROCHEUSA (genentech) is not led by legacy roche people. In addition, you can not be serious about blaming "legacy roche" for the fact that Avastin simply does not work in breast cancer? Also, are you seriosly blaming "legacy Roche" for the fact that HGH is a commodity product, with multiple competitiors in its class?
Come, stop the childish nonsense please! This is almost 4 years since the acquisition of the outstanding genetech shares, yet you are still bitter? The glory days of the old startup genetech were long gone, before the acquisition. With 10,000 plus employees, genentech has been nothing but a bloated big pharma company, for years.
The good old days are over, get over it or get out.