Saturday, March 14, 2009

Passing of a Giant

Genentech Inc., the world's first biotechnology company, and the place where I spent almost a third of my life working, effectively ceased to exist on Thursday. With the announcement that its board of directors had approved the takeover bid by Roche, the majority shareholder, for an estimated $47 billion, or $95 a share, its existence as a separate company comes to an end.

Although I stand to benefit financially from the takeover, I find myself enormously saddened by the news. It was an extraordinary place to work, and I feel exceptionally lucky to have been a part of it. I hope to write a little more about what made the company so special in future posts, but frankly, I'm a little too choked up to do so right now.

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