Swiss Pharma Roche Buys USA-Born & Bred Genentech for $47bln
This is the kind of corporate transaction that could negatively impact the American brand name.
Genentech is an amazing story and an amazing company, but I would like it to stay an amazing American-owned company. I’m happy for the business that they have such an offer, but here we are in an economic crisis, complaining about outsourcing jobs and manufacturing, as well as importing more than we export, and still, there’s the Genentech sale.
One reason this hits me so hard is that I actually remember when Genentech came into existence in the mid-1970s. My mother was an MB&B researcher, so the field was something I was somewhat familiar with. But what I actually remember the most was learning about research into how cancer forms and the idea that cells have switches that can be turned on or off by different interactions of a whole host of possibilities. I have several relatives who’ve battled cancer, some who have died, so this area of research has fascinated me for a long time.
And I just thought that, although I knew I wasn’t going to be a scientist, the stuff that they were doing was incredibly gripping. And I always knew it was on the West Coast.
What do you think? Businesses live to be sold? But to foreign owners all?
Perhaps the money will be used to create another American original?
Something about it really bothers me. You?
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Copyright 2009 The Moderate Voice