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Biotech 'bubble' pushes midsize buys out of reach - Roche CEO

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Reuters LONDON
Last Updated : Sep 15 2015 | 11:59 PM IST

By Ben Hirschler

LONDON (Reuters) - The biotechnology sector is in a "bubble", pushing prices for medium-sized companies with experimental drugs in late-stage development out of reach, the chief executive of drugmaker Roche said on Tuesday.

"I think this bubble will burst at some point," Severin Schwan told Reuters in an interview during a visit to London.

The Swiss company continues to screen for promising acquisitions but the price of potential targets was now "far, far away" from fundamental value, he said. "For us, none of them make sense and when I see this all the time, I am worried that valuations are too high."

(Reporting by Ben Hirschler; Editing by Martinne Geller)

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First Published: Sep 15 2015 | 11:41 PM IST

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