SoftBank has acquired $ 5 billion of non-voting shares through the unit responsible for trading the Swiss pharmaceutical company Roche’s “Nasdak Whale,” two people with trading knowledge said.
Investment architect Akshay NahetaFormer Deutsche Bank trader to run SB North StarA vehicle installed last year to manage public equity transactions for Japanese technology investors.
40-year-old Naheta is behind some of SoftBank’s most controversial investments.These are so-called Nasdaq whaleIs a German settlement company suffering from scandals buying billions of dollars in US equity derivatives in a series of transactions that triggered a tech stock rebound Wire card..
The deal, first reported by Bloomberg, will take place just months after SoftBank founder Masayoshi Son told investors to do so. Reduce investment By SB Northstar after the unit posted a $ 5.6 billion derivative loss since it was founded in July 2020.
The decision to buy shares in a major pharmaceutical company marks a shift from SB North Star’s recent investment, which has focused on tech and early-stage biotechnology companies. Those who were briefed on the issue said the move points to Naheta’s attempt to diversify SB Northstar’s portfolio.
SB NorthStar’s investment is partially funded by Son’s Personal moneyRaised questions about the unit’s strategy and due diligence process, within SoftBank and among investors.
Roche, one of the world’s largest pharmaceutical companies by sales, focuses on anti-cancer drugs and the treatment of immune status, among other diseases.Some of those drugs have targeted or “Precision medicine” An approach developed and acquired by Roche using its own data.
The Basel-based group is managed by the Hoffmann La Roche family, which holds a 50.1% stake.Company Disclosure Novartis, also a Basel-based show rival, owns a third.
After a lengthy battle, Roche acquired US biotechnology Genentech for $ 47 billion in 2009. The latter’s early R & D centers continue to operate independently within Roche, San Francisco, where the US business of the pharmaceutical company is headquartered.
Roche and Softbank declined to comment. Naheta couldn’t get any comments right away.
Roche, one of the world’s “Big Four” diagnostic manufacturers, has sales gain According to its demand in the last year Covid-19 test, Although we do not manufacture vaccines. Sales in the pharmaceutical sector declined during the pandemic, but the company said last month that the unit returned to growth, supported by a recovery in routine health care.
Actemra, one of the company’s rheumatoid arthritis drugs, Severe treatment He is a Covid patient and is recommended by the World Health Organization.Roche also developed Covid Antibody cocktail With the US company Regeneron.
Roche’s share rose 18% this year. Softbank’s share price fell 1.1% on Wednesday.
Additional report by Robert Smith in London
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SoftBank acquires $5bn stake in Swiss drugmaker Roche Source link SoftBank acquires $5bn stake in Swiss drugmaker Roche