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Healthcare In a State of Flux
Long thought to be an industry that could be banked on for stability by defensive investors during periods of turmoil, the healthcare industry should now be carefully navigated.
Two sectors within the industry that are worth noting right now are healthcare providers and biotech. These two sectors have experienced drastically different fates so far in 2008, and the trend might be expected to continue. Year-to-date, the iShares Dow Jones Healthcare Provider Fund (IHF) has choked on a loss of 46.4%. This performance is worse than that of the S&P 500 which is down 39.2% so far this year. It is far…
27Oct2008 | Oxbury Research | Comments Off | ContinuedSwitzerland’s Roche Makes $43.7 Billion Offer for U.S. Biotech Pioneer Genentech
Roche Holding Ltd. (OTC ADR: RHHBY) yesterday (Monday) announced a $43.7 billion offer for the 44% of Genentech Inc. (DNA) it doesn’t already own.
Switzerland-based Roche’s $89 per share cash offer is almost a 9% premium over San Francisco-based Genentech’s Friday closing price. Roche first acquired 60% of Genentech for $2.1 billion in a 1990 deal. Currently, Roche owns approximately 56% of outstanding Genentech shares.
Roche will finance the Genentech deal through a combination of new debt and $9.8 billion (10 billion Swiss francs) in cash.
“The transaction will create a unique opportunity to evolve Roche’s hub-and-spoke model into a structure that allows…
22Jul2008 | Money Morning | Comments Off | Continued
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