Roche says commitment to Decode is long-term
BASEL, Switzerland, Sept 13 (Reuters) - Swiss drugmaker Roche (ROG.VX) remains committed to Iceland's Decode Genetics (DCGN) , senior executives said on Monday, adding that their drug-discovery partnership with the firm was a long-term one.
"This is not just short-term hopping in and buying medicines," Jonathan Knowles, Roche's Head of Global Research, told a media briefing. "This is a long-term partnership."
Decode has been funded by a multi-year $200 million partnership with Roche in 1998 and an additional five-year $300 million collaboration with Roche Diagnostics in 2001.
Analysts had suggested the agreement was to be reviewed.
Decode also said on Friday it had appointed Deloitte & Touche as its new accountants after PriceWaterhouseCoopers resigned in late August. Decode said at the time there were no disputes between it and PWC, which had served since 1996.
Peter Hug, Global Head of Pharma Partnering, told Reuters on the sidelines of the briefing that Roche was committed to Decode, noting that since the beginning of its partnering strategy in 2001 Roche had not abandoned any deal.
Roche has more than 50 partnerships with other companies, ranging from single-product agreements on developing drugs and diagnostics to its larger stakes in U.S. biotech firm Genentech (DNA.N: Quote, Profile, Research) and Japan's Chugai (4519.T: Quote, Profile, Research) .
Knowles said Roche's work with Decode gave it access to Iceland's unique genetic databases which go back 1,200 years and allow scientists to research genetic risk factors in patients to determine how well they will respond to different treatments.
Reykjavik-based Decode has built up a unique database of DNA samples from the isolated Icelandic population, along with their medical histories and genealogy... |
