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MARKET INTEL by PharmaCompass
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By PharmaCompass
2019-05-02
Impressions: 85 Article
Last week, Swiss drugmaker Roche announced yet another extension of its US$ 4.3 billion offer for gene therapy specialist Spark Therapeutics. The new extension is until June 3, and Roche said the reason behind the extension is the fact that the US authorities are taking longer than expected to complete their review.
Roche said all terms and conditions will remain unchanged during the extended period. Earlier this month, Roche had extended its offer until May 2, but said the Federal Trade Commission (FTC) needed even more time to complete its review.
Roche is buying Spark, which has one treatment against blindness on the market and others, such as a treatment for hemophilia A, in development. There is an industry-wide push into gene therapy, and Roche’s rivals like Novartis and Pfizer are also focusing on this field.
“The review of the transaction is ongoing, and the parties are actively working with the government to facilitate that process,” Roche said.
Roche still expects to wrap up the deal and begin work on integrating Spark’s operations with its own in the first half of 2019. Spark faces several lawsuits in the US wherein its shareholders are challenging the sale to Roche, on grounds that it undervalues Spark’s stock and is unfair to its shareholders.
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