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    • Roche, Spark...

    Roche, Spark Therapeutics $4.3 billion deal delayed again amid US, UK scrutiny

    Farhat NasimWritten by Farhat Nasim Published On 2019-06-10T09:30:42+05:30  |  Updated On 16 Aug 2021 10:48 AM IST

    Roche said on Monday that both companies received a request for more information from the U.S. Federal Trade Commission in connection with the FTC's review of the deal.


    ZURICH: Swiss drugmaker Roche's $4.3 billion takeover of U.S. gene therapy specialist Spark Therapeutics has been pushed back again, possibly beyond the first half, as regulators continue to scrutinize the deal for its effect on competition.


    Roche said on Monday that both companies received a request for more information from the U.S. Federal Trade Commission in connection with the FTC's review of the deal.


    The company also said that the UK Competition and Markets Authority (CMA) has opened an investigation.


    The Swiss drugmaker wants to buy Spark to among other things, get ahold of U.S. firm's experimental gene therapy for hemophilia A as well as its platform to develop other treatments for genetic diseases. But Roche has been forced to push back completion repeatedly, this time giving itself to July 31, beyond its self-imposed first-half deadline, to wrap things up.


    Also Read: Roche gets USFDA nod for combo drug Venclexta, Gazyva to treat lymphocytic leukaemia


    "The parties remain committed to the transaction and are working cooperatively and expeditiously with the FTC in connection with its review," Roche said in a statement.


    The FTC has said it does not comment on cases it is reviewing.


    The British regulator's separate inquiry is aimed at determining whether the CMA considers it has jurisdiction over Roche's acquisition, and if so, whether it could hurt competition in Britain.


    "Pending the outcome of its investigation, the CMA has issued an Interim Enforcement Order that would become effective upon closing of the transaction and would require Roche to hold separate the Spark business," Roche said. "The parties are working cooperatively with the CMA and will continue to do so."


    Also Read: Roche, GE Healthcare launch NAVIFY Tumor Board to enable personalised treatment decisions in cancer care

    AcquisitionbidCMACompetition and Markets AuthorityEnforcement OrderFederal Trade CommissionFTCgene therapygene therapy for hemophilia Ahemophiliahemophilia Apharmapharma newsRocheRoche bidscrutinySpark TherapeuticsUS
    Source : Reuters

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    Farhat Nasim
    Farhat Nasim

      Farhat Nasim joined Medical Dialogue an Editor for the Business Section in 2017. She Covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a graduate of St.Xavier’s College Ranchi. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751 To know about our editorial team click here

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