U.S. asks for more data on Genentech deal
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U.S. regulators requested additional information about Genentech Inc.’s proposed acquisition of Tanox Inc., delaying the $919-million transaction.
The companies said they expected the review to extend beyond the first quarter and the deal, Genentech’s first acquisition, to close during the first half of this year. The companies had originally expected approval from the Federal Trade Commission by the end of March.
South San Francisco-based Genentech agreed in November to buy Houston-based Tanox to gain full control of the asthma medication Xolair.
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