The acquisition of Roche by Spark, worth $ 5 billion, is delayed by a regulatory review

Roche's proposed US $ 4.8 billion acquisition of Spark Therapeutics, a US gene therapy group, could be postponed beyond the second quarter due to increased oversight by regulators which raises questions as to the date of finalization of the agreement.

The Swiss pharmaceutical group and Philadelphia-based biotechnology company Spark announced Monday that it had received additional information and documentary requests from the US policeman, prompting Roche to extend the period of the investigation. 39; takeover bid until next month.

In February, Roche agreed to buy Spark Therapeutics in the last case of a large pharmaceutical company that was paying a premium to recruit a promising biotechnology group. Pharmaceutical companies have spent huge sums of money to outbid and create potentially cutting-edge biotechnology groups.

Due to the "second request" of the Federal Trade Commission, which is part of the regulatory review process, the waiting period for the offer has been extended from June 14 to July 31, announced Monday a statement.

When the agreement was announced in February, the groups announced their intention to close it during the quarter of April to June of this year.

"The second application has the effect of extending the waiting period until 10 days after Roche essentially complies with the second request, unless the waiting period is earlier terminated by the FTC or that the parties have reached a schedule agreement with the FTC, "Monday's statement said.

British regulators are also investigating to determine if they are competent for the acquisition and, if so, what the purchase would mean for the competition. The Competition and Markets Authority has issued a temporary enforcement order that would come into effect once the deal is finalized, forcing Roche to hold the Spark business separately.

Roche offered $ 114.50 for each share of the Philadelphia-based company, a premium of more than 122% of Spark's closing price on Feb. 22, the company announced in February. The offering valued Spark at $ 4.8 billion, including approximately $ 500 million of net cash.

"The parties remain committed to the transaction and are working cooperatively and quickly with the FTC as part of its review," the statement said on Monday.

Founded in March 2013, Spark is from a research center at the Children's Hospital of Philadelphia. The company, which develops gene therapies, has raised more than $ 1 billion in capital and has more than 300 employees.