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The Leading Biotechnology Company: Genentech

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By the end of 2003, biotechnology company Genentech was well positioned to deliver on its vision to “be the leading biotechnology company, using human genetic information to discover, develop, manufacture and commercialize biotherapeutics that address significant unmet medical needs”. At the time, Genentech had revenues of $3.3 billion and net income of $563 million. Their product sales represented 79% of their revenues, with royalties and contract revenue accounting for the balance. Genentech’s largest revenue-generating product was Rituxan (for non- Hodgkin’s lymphoma) with $1.5 billion in sales. In February 2004, the FDA approved Avastin, a drug created by Genentech for the treatment of metastatic colorectal cancer. Genentech’s sales were

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