UPDATE 1-Roche says still commited to Genentech bid

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ZURICH, Nov 25 (Reuters) - Swiss drugmaker Roche Holding AG (ROG.VX) is still committed to a $43.7 billion bid to buy out U.S. biotech group Genentech Inc DNA.N, a spokesman said on Tuesday.

Responding to a question on the status of the bid after top global miner BHP Billiton (BHP.AX) walked away from its hostile offer for Rio Tinto (RIO.AX), spokesman Daniel Piller said Roche still aimed for a negotiated settlement.

"We are still committed to a transaction and aim to reach an agreement with Genentech," Roche's Daniel Piller said.

Roche offered $89 a share in cash in July for the 44 percent of Genentech it does not already own, but the U.S. biotech company rebuffed the initial bid.

Genentech shares have slid below the offer price as doubts have spread over Roche's ability to raise the debt as the financial crisis has deepened. Genentech closed at $76.66 on Monday.

BHP dropped a $66 billion hostile offer for rival Rio Tinto on Tuesday, the latest casualty of a global crisis that has frozen credit markets. [ID:nLP150041] (Reporting by Sam Cage; Editing by David Holmes)