Thursday, July 24, 2008

Roch's move was really a surprise

A couple of days ago, I posted about how the people at Genentech were blindsided by Roche's announcement of their intent to acquire the remainder of the outstanding shares of Genentech that Roche did not own.
And I guess it really was a surprise.
Further underscoring how unexpected the move by Roche was....Reuters reported that Arthur Levison, Genentech's CEO, sold 90,000 shares last Friday. If he had held on to those shares even one more day, he would have made substantially more profit...upwards of $1 Million Dollars.

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