Roche provides update on Genentech integration

During Roche's 2Q09 conference call, Richard Scheller, EVP of Genentech research and early development, said that none of Genentech's scientists have left the company since the deal closed in March. Roche (SIX:ROG) also updated its expected savings through synergies from the acquisition. The company said it now expects savings from synergies of CHF300 million ($280.4 million) in 2009; CHF800 million in 2010; and CHF1 billion in 2011. Previously, Roche had said it expected annual savings from synergies of $750-$850 million. ...