Sanofi and Novartis pull out of bidding war for Illumina

The mounting speculation that Sanofi or Novartis might join Roche in a bidding war for Illumina has disappeared following indication of lack of interest by the CEO of the two pharmaceutical giants. Roche has put up an initial bid of $5.7 billion and investors believe the bid still has the potential to go up until a deal can be struck between the two companies.

When interviewed by Reuters, the apathy of the two CEOS towards the idea was apparent. For them, there are better ways to get hold on personalized medicines and diagnostic tools than paying billions to gain access to gene sequencing technology. “Everybody is thinking about diagnostics but you can get access to this technology without necessarily having to acquire the company,” Novartis CEO Joe Jimenez told Reuters.

Sanofi’s Chris Viehbacher agrees. He added that Illumina will still be working with other companies on other drugs so no significant changes is expected after the acquisition. Besides, there remains a risk of a big loss. “It’s just not the risk profile we’re looking for. It could pay off well or there’s a big downside,” Viehbacher said. “You need to be part of new technologies but I think partnership is the way to go.”

Sanofi-Aventis is one of the pharmaceutical giants which has sent representatives to speak at BioPharma Asia Convention 2012.

Dr Trang Nguyen Hoang Hanh, Head, Medical Affairs & Clinical Operations, Sanofi-Aventis Vietnam will be speaking on “Panel: Mapping out the challenges and opportunities for clinical trials in South East Asia” at Pharma Trials World Asia.

Mr Hemant Pachnanda, Director of Strategy and Business Development, Sanofi-Aventis Singapore will be speaking on “Panel: Comparing business development strategies in Asian Markets-Established verus emerging markets” at Pharma Partnering & Investment World Asia.

Mr Sam Zhou, Head of Security for Asia Region, Sanofi-Aventis China meanwhile will be speaking on”Creating the best products: Aligning your supply chain process with quality compliance ” at Pharma & Biotech Supply Chain World Asia.

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