Roche said, it remains committed to diabetes care business following a report it may exit

News Hour:

Swiss drugmaker Roche said on Wednesday it remains committed to its diabetes care business following a report that the company was considering options for the unit. There has been “no change”, said a Roche spokesman.

“We remain committed to Diabetes Care.”

Bloomberg had reported alternatives for the unit could include a partial sale or spinoff and the sale could fetch as much as $5 billion, citing people familiar with the matter. Roche said last year it had no plans to sell the business, reports Reuters.

The logo of Swiss pharmaceutical company Roche is seen outside their headquarters in Basel

There has been an activity with similar businesses, with Johnson & Johnson saying last week that it is looking to divest its diabetes division. Bayer AG sold its diabetes business to KKR and Panasonic in 2015 for $1.1 billion.

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