On Mar. 26, 2009, Roche completed its acquisition of Genentech for $46.8 billion pursuant to a short-form merger in which Genentech became a wholly-owned member of the Roche Group.

Roche agreed to acquire the 44 percent of shares in the U.S. firm it did not already own for $95 each, ending a long pursuit of the U.S. biotech group and its lucrative cancer drugs.

Under the terms of the agreement, Genentech is to retain its culture. Research and early development operations will be conducted from Genentech’s South San Francisco (California, U.S.) campus.

Roche’s marketing operations presently in Nutley (New Jersey, U.S.) and virology research laboratories presently in Palo Alto (California) will be relocated to the San Francisco site. Roche’s inflammatory research laboratories will be moved to Nutley.

The companies do not anticipate scaling down their individual sales operations, which will operate under Genentech’s banner.