Roche Holding AG (ROG.VX) Chairman Franz Humer said Friday the company is confident it will have the financing available to fully take over biotechnology company Genentech Inc. (DNA), when it will be necessary.

Humer also said it was too early to say when the deal would be completed.

Roche said earlier Friday it is launching a hostile bid to buy the 44% of shares in U.S. biotechnology company Genentech Inc. (DNA) that it doesn't already own. Roche also lowered the offer price to $86.50 a share from its original offer price of $89 a share.

Company Web sites: www.roche.com

www.genentech.com

-By Anita Greil, Dow Jones Newswires; +41 43 443 8044 ; anita.greil@dowjones.com

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