Is old school, family-owned Roche trying to upstage its younger, sexier biotech partner?
A recent partnership of near-blockbuster proportions may seem to say yes.
At a time when some investors have questioned whether Genentech, in which Roche owns a majority stake, has a robust enough offering in early-stage R&D, Roche is bolstering its oncology pipeline. The drug giant has partnered with Berkeley, CA-based Plexxikon to develop a targeted cancer therapy in a hefty deal that could be worth more than $700 million.
Genentech, although a significant source of Roche's oncology revenue here and abroad, is not involved in the deal.
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