Roche Holding said its effort to expand in gene therapy via the $4.3 billion tak...
ZURICH - Roche Holding said its effort to expand in gene therapy via the $4.3 billion takeover of Spark Therapeutics remained on track despite failing to get enough votes to clinch the deal and as U.S. regulators continued scrutinizing it.
Roche also said a review of the acquisition by the U.S. Federal Trade Commission , the government agency which seeks to prevent anti-competitive practices, was taking more time than anticipated and its plans had had to be refiled. “The deal is not in doubt at all and we expect it will be completed according to our guidance in the first half of 2019. There needs to be more than 50 percent of the shares to be tendered, but we believe our offer to be full and fair and it has been recommended by the board of Spark,” the spokesman added.Spark shares closed at $114.01 on Tuesday. Roche shares were down 0.3 percent in early trade.
The offer came as rivals including Novartis also move into gene therapy, where treatments for rare, inherited diseases command some of the highest prices in medicine.
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