BASEL (Thomson Financial) - Roche Holding AG plans to use its strong cash
position to further accelerate R&D spending and to invest in small to medium
sized acquisitions, outgoing chief executive and chairman Franz Humer said.
"In 2008 we will reach the 10 bln sfr mark (for R&D spending)," Humer said
during a media briefing following the pharma group's presentation of full year
results.
Roche also continues to look out for potential takeover targets, he said.
The group is primarily looking for acquisitions in the diagnostics segment,
but would also be open to small pharma deals, Humer said.
"We are not interested in any mega-deals in the pharma segment, but would be
happy to look at smaller targets or spin-offs," he said.
Turning to the group's recent acquisition of Ventana Medical Systems Inc,
where Roche recently hiked its tender offer to 89.50 usd per share, from 75 usd,
Humer said the new price was justified given the strategic fit and the
advantages of a friendly takeover.
Humer also said that Roche sees no impact of the current credit crisis on
its sales potential.
"Our product portfolio sees only a limited impact from economic
fluctuations," Humer said. "If you have cancer, you are going to treat it," he
added.
He also noted that the group's portfolio with its strong cancer focus was
better protected against pricing pressure than most of its rivals.
At the same time, Roche continues to diversify its portfolio, with
rheumatoid arthritis drug MabThera and treatments for lupus and multiple
sclerosis seen as potential growth drivers, he added.
johanna.treeck@thomson.com
jmt/at/ejp
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