Roche shares drop as CEO rules out combined Roche/Genentec research
09.15.2010
Roche stock fell 2.4 percent on Sept 15 after Reuters published an exclusive interview with Roche CEO Severin Schwan in which he ruled out merging Roche and Genentech research operations and warned of slow growth in 2011 and 2012. The news was picked up in analyst research notes from Helvea, Vontobel and Kepler, and traders cited the interview as a key reason for the stock weakness. The story also made it onto Cash online, which was delivered over Bloomberg terminals, and was picked up by various newspapers, including TagesAnzeiger, one of Switzerland`s biggest-selling newspapers, The Guardian, the San Jose Business Journal as well as by trade press.
