Roche extends Spark offer after getting only 29 percent

ZURICH: Roche Holding has extended until May 2 its US$4.3 billion offer for U.S. gene therapy specialist Spark Therapeutics, the Swiss drugmaker said after getting only 29.4 percent of Spark's shares in a tender originally due to end on Wednesday.Advertisement

"All terms and conditions of the offer shall remain unchanged during the extended period," Roche said in a statement on the US$114.50 per share offer it announced in February.Roche offered more than twice the Philadelphia-based company's closing price on Feb. 22 for a portfolio that includes a blindness treatment that has U.S. and European approval and other projects for haemophilia and neurodegenerative disorders like Huntington's disease.

The offer comes as rivals, including Novartis, also move aggressively into gene therapy, where treatments for rare, inherited diseases command some of the highest prices in medicine. Spark's blindness therapy Luxturna is priced at US$850,000 per patient.

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