ZURICH--Swiss drug maker Roche Holding AG (ROG.VX) is not
considering another takeover bid for U.S. gene-sequencing company
Illumina (ILMN), Chairman Franz Humer was quoted as saying Sunday
in a newspaper interview.
"Illumina is definitely off the table. Our counterpart wasn't
ready to move from their totally unrealistic price expectation.
Roche doesn't do acquisitions that don't create value," Mr. Humer
was quoted as saying in the SonntagsZeitung.
"Illumina was a "nice to have" for us, not a "must have." There
are other alternatives to get access to gene-sequencing technology,
that doesn't worry me," Mr. Humer said, without elaborating.
Roche approached Illumina of San Diego, California, last year
with an unsolicited $6.8 billion offer that was repeatedly rebuffed
by Illumina saying the price was too low. Roche eventually dropped
the bid in April, but a newspaper in December reported the
Basel-based pharmaceutical giant could be preparing a fresh
bid.
By acquiring Illumina, Roche wanted to expand its offering of
personalized medicines, a booming health care segment. Some of the
world's biggest pharmaceutical companies are vying to enter the
space, which allows matching treatments to those patients who would
benefit the most from them.
In the interview, Mr. Humer was also quoted as saying that Roche
Chief Executive Severin Schwan will not succeed him as company
chairman. Mr. Schwan stands for election to Roche's board of
directors in the spring.
Write to Marta Falconi at marta.falconi@dowjones.com
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