Roche not talking to Genta
Drugmaker Roche Group says rumors of deal for Genta cancer drug are untrue.
February 28, 2002: 7:35 p.m. ET
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NEW YORK (CNN/Money) - European drugmaker Roche Group is not negotiating with biotech Genta Inc. about a partnership for potential blockbuster cancer drug Genasense, leaving Aventis and Pharmacia Corp. as the most likely candidates.
William M. Burns, global head of Roche Group's pharmaceutical division, told CNN/Money Thursday the company is not looking at a marketing deal for Genasense, despite recent rumors.
"We are having active discussions with a number of companies," Burns said. "But I'm not aware of discussions with (Genta)."
Genta Chairman, President and CEO Raymond P. Warrell Jr. told CNN/Money last week the company is in "very late-stage negotiations" for a Genasense deal, but he declined to name the other party.
Analysts who speculated Genta was talking to a large European company had named Roche as a very likely candidate because of its strong oncology pipeline.
Other companies with strong cancer drug portfolios which could be candidates are Aventis and Pharmacia Corp., analysts said.
A spokesman for Aventis said the company is in discussions with a number of companies regarding licensing deals, but would not say if the company is talking to Genta.
Patrick Mooney, analyst with Thomas Weisal Partners, said both Aventis and Pharmacia are possibilities, but stressed that from Genta's perspective any large, strong drugmaker would be a good partner.
According to Genta, results from three concurrent Phase III trials of Genasense should be out this year, and if the news is positive the drug should launch in the first half of 2003.
Genta officials had no comment in response to Roche. 
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