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Roche's Acquisition of Genentech: Retention Program Unlikely to Stem Departures

 
• By Ellen Licking and Randall Osborne

Roughly a week after rejecting Roche's initial buy-out proposal, Genentech announced a generous retention plan to employees who commit to staying through June 2009. Trouble is, the retention plan may not offer much incentive, especially to those ineligible for large bonus packages.

As the biopharma community awaits the next act of the Roche/Genentech Inc. performance to play out, speculation persists over whether the Bay Area icon can retain both its hard-driving culture and the scientific minds that created it given the likelihood that it will soon become a wholly owned subsidiary of the Swiss pharma. [See Deal](See "In Bid For Genentech How High Can Roche Go?" IN VIVO, September 2008 Also see "In Bid For Genentech, How High Can Roche Go?" - In Vivo, 1 September, 2008..)

Genentech recently announced a generous employee retention plan to curb uncertainty among the biotech’s staffers. But off-the-record discussions with Genentech...

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