Roche has raised its takeover offer for Genentech ( DNA) to $93 a share, the drugmaker announced Friday. "Based on conversations with Genentech shareholders, we believe that there is a strong sentiment to bring this process to a conclusion. As a result, we are increasing our price to US$93 per share to maximize shareholder participation and will proceed quickly to complete all necessary financing. We now look forward to successfully completing the transaction," said Roche Chairman Franz Humer, in a statement. Roche's previous offer for the remaining 44% stake in Genentech it doesn't already own was $86.50 a share, which Genentech's board had deemed too low. The original Roche takeover offer in July was $89 a share. Genentech shares were up 9.5% at $89.37 in recent trading. The stock's 52-week high is $99.14.