BNET's David Hamilton on Genentech-Roche

BNET Industries editor, David Hamilton, blogs up the skinny on Roche's attempted acquisition of biotech giant, Genentech. Writes Hamilton:

The deal also has a funny smell to it. Roche CEO Severin Schwan claims the merger would save $800 million a year in administrative costs from merging commercial and manufacturing operations, but that doesn't come close to justifying the cost. Obviously, Roche would also get 100 percent of the revenues from Genentech's hit cancer drugs Avastin, Rituxan and Herceptin, instead of the (significant) fraction it receives by virtue of marketing the drugs outside the U.S.