DeviceSpace.com
Medical Device and Diagnostics
News & Jobs
 
Search the Site
    
 
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login           Employers:  Register | Login  

 News | News By Subject | News By Date | Search News
Get Our Industry eNewsletter FREE email:    
 Print  Email    

Roche (RHHBY) CFO: We May Use Cash to Reduce Debt, Make M&As; Co. Rumored to Have Made Higher Bid for Illumina, Inc. (ILMN)


12/20/2012 7:44:34 AM

Roche Holding AG (ROG) favors acquisitions of as much as $7 billion over spending cash on share buybacks, Chief Financial Officer Alan Hippe told Bloomberg Industries analysts at a meeting. The company is looking for innovative technologies valued at $6 billion to $7 billion, including gene sequencing, Bloomberg Industries wrote in a note to clients today, citing Hippe. Roche, based in Basel, Switzerland, also is seeking smaller product deals to complement its existing offerings, the CFO told the analysts. The acquisition strategy and potential spending range is similar to those of other pharmaceutical companies such as Sanofi and Roche’s cross-town rival Novartis AG, Bloomberg Industries wrote. Roche is the most leveraged large drugmaker, with a net debt-to-assets ratio of 25 percent, according to Bloomberg Industries. The company plans to use cash to pay down debt with a goal of 15 percent leverage, Hippe said.

Read at Bloomberg
Read at Street Insider
Read at RTT News

 Read Article at  Related Companies  News Categories
   


ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES
 
    

//-->