Roche/Genentech: THE END

Drugs company Roche has agreed to merge with Genentech, and is to buy the remaining shares of the US firm for $46.8bn (£33.7bn).

Page last updated at 10:11 GMT, Thursday, 12 March 2009

Roche already owned 55% of Genentech. The deal ends a long struggle between the two companies and is the latest merger in the pharmaceutical sector.

The combined group will generate about $17bn in annual revenues and be the seventh-largest US drugs company.

Much of Genentech's revenue comes from cancer-related drugs.

Roche expects the merger to generate annual pre-tax cost savings of about $750m to $850m.