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Roche laments Illumina stonewalling

This article was originally published in Scrip

Executive Summary

Roche CEO Severin Schwan used the platform of the pharma major's 1Q performance review to reiterate his belief that the upwardly revised offer of $51 a share for Illumina is "full, fair and extremely attractive by every conceivable financial metric". This is especially so as Illumina's board has not provided any substantive numbers to support its aggressive growth assumptions. "We believe that their long term growth expectations are unrealistic and ignore the inherent and significant market and technology risks," he said.

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