Roche to buy U.S. biotech firm Seragon for up to $1.7 billion

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Roche to buy U.S. biotech firm Seragon for up to $1.7 billion

<p><a href="http://news.yahoo.com/roche-buy-u-biotech-firm-seragon-725-million-052019876--finance.html"><img src="http://l3.yimg.com/bt/api/res/1.2/cLwXNaTRSLBegyAvGgKRUA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-07-02T055559Z_2_LYNXMPEA6104X_RTROPTP_2_ROCHE-CHINA-FRAUD.JPG" width="130" height="86" alt="The logo of Swiss pharmaceutical company Roche is seen outside the Shanghai Roche Pharmaceutical Co. Ltd. headquarters in Shanghai" align="left" title="The logo of Swiss pharmaceutical company Roche is seen outside the Shanghai Roche Pharmaceutical Co. Ltd. headquarters in Shanghai" border="0" /></a>Roche Holding AG ROG.VX said it would pay up to $1.725 billion to buy Seragon Pharmaceuticals, a privately-held U.S. biotech company that researches breast cancer treatments. Roche has long dominated the field of breast cancer with drugs such as Herceptin and recently won approval for Kadcyla and Perjeta, two treatments for patients whose cancer cells contain increased amounts of the protein known as HER2. San Diego-based Seragon was spun out from Aragon Pharmaceuticals last year when that company was bought by Johnson &amp; Johnson JNJ.N. Seragon is focused on developing a new generation of oral medicines that it believes offer an improved way of tackling hormone receptor-positive breast cancer, and potentially other cancers. Its most advanced experimental drug, ARN-810, is currently in initial Phase I clinical trials for breast cancer patients who have not responded to current hormonal agents.</p><br clear="all"/>

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