Biotechnology pioneer Genentech Inc. mulled Roche Holding's $43.7 billion offer for its remaining shares Monday as investors made clear their feelings that the Swiss pharmaceutical giant should pay considerably more.
But some analysts said Roche, already Genentech's majority shareholder, has leverage to keep the price for the maker of the blockbuster cancer therapy Avastin and other cancer treatments from spiraling much higher.
Genentech's stock price climbed well above Roche's offer of $89 per share in midday trading Monday _ a bet that the independent directors weighing the Basel-based company's bid will demand more money.
Shares jumped $11.80, …
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