Report: Roche nixes plans to sell diabetes business
NEW YORK – Drugmaker Roche Holding AG is pulling back from plans to sell its blood glucose meter business, Reuters reports. In recent months, the Swiss company explored selling that segment of its business in the face of greater competition and lower reimbursement from Medicare and Medicaid. But that lower reimbursement has precluded a profitable sale, leading the company to hold onto the business, according to the news agency. Roche’s decision follows a similar one by Bayer, which was unable to attract enough interest to sell its blood glucose meter business earlier this year.