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Genentech Fast Facts

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Founded more than 30 years ago, Genentech is a leading biotechnology company that discovers, develops, manufactures and commercializes medicines to treat patients with significant unmet medical needs. The company has headquarters in South San Francisco, California, and is listed on the New York Stock Exchange under the symbol DNA.

The below information is current as of April 2008.

Founders and Date of Incorporation Venture capitalist Robert Swanson and biochemist Dr. Herbert Boyer founded Genentech on April 7, 1976.

Financial Highlights

(in millions, except per share amounts)
Q1 2008 Full Year 2007

Total Operating Revenues (GAAP):
$3,063
$11,724
Total Operating Revenues (Non-GAAP):
$3,059
$11,718

Total U.S. Product Sales:
$2,205
$8,540

Net Income (GAAP):
$790
$2,769
Net Income (Non-GAAP):
$895
$3,142

Total Costs and Expenses (GAAP):
$1,859
$7,495
Total Costs and Expenses (Non-GAAP):
$1,692
$6,950

Diluted Earnings Per Share (GAAP):
$0.74
$2.59
Diluted Earnings Per Share (Non-GAAP):
$0.84
$2.94

Genentech's unrestricted cash and investments portfolio totaled approximately $7.1 billion as of March 31, 2008.

Employees

Number of Full-Time Employees:
11,000

The company has consistently been recognized as a top employer by such publications as FORTUNE, Working Mother, and Science. In January 2008, FORTUNE named Genentech to its list of the "100 Best Companies to Work For" in the United States for the tenth consecutive year.

Executive Committee The Genentech Executive Committee provides guidance on overall strategy, business development, sales and marketing, and research and development. Its members include:

Arthur D. Levinson, Ph.D.
Chairman and Chief Executive Officer

Susan Desmond-Hellmann, M.D.
President, Product Development

Ian T. Clark
Executive Vice President, Commercial

David Ebersman
Executive Vice President and
Chief Financial Officer

Stephen G. Juelsgaard
Executive Vice President, Secretary and Chief Compliance Officer

Richard H. Scheller, Ph.D.
Executive Vice President, Research

Patrick Y. Yang, Ph.D.
Executive Vice President, Product Operations

Research Genentech conducts basic and applied research in the areas of oncology, immunology, and disorders of tissue growth and repair, with a major focus on angiogenic disorders. In March 2008, the research organization also announced the initiation of early efforts in two new therapeutic areas: neuroscience and infectious disease. Genentech's more than 900 scientists consistently publish important papers in prestigious journals and are among the top researchers in the world in terms of total citations.

Pipeline Genentech's development pipeline numbers more than 100 projects and includes a combination of breakthrough innovations and new indications for existing, well-understood products that may fight more than one disease or more than one form of a disease.

Products Since the company was founded in 1976, Genentech has focused its drug discovery efforts on therapies that address significant unmet medical needs. Today Genentech manufactures and commercializes multiple biotherapeutics for serious or life-threatening medical conditions. Genentech's marketed products include:

BioOncology

  • Avastin® (bevacizumab) for use in combination with intravenous 5-fluorouracil-based chemotherapy for first- or second-line treatment of patients with metastatic carcinoma of the colon or rectum and in combination with carboplatin and paclitaxel for the first-line treatment of patients with unresectable, locally advanced, recurrent or metastatic non-squamous non-small cell lung cancer
  • Herceptin® (Trastuzumab) in combination with paclitaxel and as a single agent in second- and third-line therapy for patients with metastatic breast cancer who have tumors that overexpress the HER2 (human epidermal growth factor receptor2) protein; as part of a treatment regimen containing doxorubicin, cyclophosphamide and paclitaxel, for the adjuvant treatment of patients with HER 2-positive, node-positive breast cancer; and as a single agent, for the adjuvant treatment of HER2-overexpressing node-negative (ER/PR-negative or with one high risk feature) or node-positive breast cancer, following multi-modality anthracycline-based therapy
  • Rituxan® (Rituximab) for the treatment of patients with relapsed or refractory, low-grade or follicular, CD20-positive, B-cell non-Hodgkin's lymphoma (NHL) as a single agent; for previously untreated diffuse large B-cell, CD20-positive, NHL in combination with CHOP (cyclophosphamide, doxorubicin, vincristine and prednisone) or other anthracycline-based chemotherapy regimens; for previously untreated follicular, CD20-positive, B-cell NHL in combination with CVP (cyclophosphamide, vincristine and prednisolone) chemotherapy; and for the treatment of non-progressing (including stable disease), low-grade, CD20-positive, B-cell NHL as a single agent, after first-line CVP chemotherapy
  • Tarceva® (erlotinib) for the treatment of patients with locally advanced or metastatic non-small cell lung cancer after failure of at least one prior chemotherapy regimen; in combination with gemcitabine chemotherapy for the treatment of advanced pancreatic cancer in patients who have not received previous chemotherapy

Immunology

  • Raptiva® (efalizumab) for the treatment of chronic moderate-to-severe plaque psoriasis in adults age 18 or older who are candidates for systemic therapy or phototherapy
  • Rituxan® (Rituximab) for use in combination with methotrexate for reducing signs and symptoms and to slow the progression of structural damage in adult patients with moderately- to severely-active rheumatoid arthritis who have had an inadequate response to one or more tumor necrosis factor antagonist therapies
  • Xolair® (Omalizumab) for Subcutaneous Use for the treatment of moderate-to-severe persistent asthma in adults and adolescents

Tissue Growth and Repair

  • Activase® (Alteplase, recombinant), a tissue-plasminogen activator to dissolve blood clots, for treating patients with acute myocardial infarction (heart attack), acute massive pulmonary embolism (blood clots in the lungs), and acute ischemic stroke (brain attack) within the first three hours of symptom onset
  • Cathflo® Activase® (Alteplase), a thrombolytic agent for the restoration of function to central venous access devices in both pediatric and adults patients
  • Lucentis® (ranibizumab injection), a vascular endothelial growth factor (VEGF) inhibitor indicated for the treatment of neovascular (wet) age-related macular degeneration (AMD)
  • Nutropin® [somatropin (rDNA origin) for injection] human growth hormone for treating growth hormone deficiency, for treating growth failure due to chronic renal insufficiency prior to kidney transplantation, and for treating short stature associated with Turner syndrome
  • Nutropin AQ® [somatropin (rDNA origin) injection], a liquid formulation of Nutropin for the same indications as Nutropin®
    • Nutropin AQ Pen® for use with Nutropin AQ Pen® Cartridge [somatropin (rDNA origin) injection], a delivery device for Nutropin AQ®
  • Pulmozyme® (dornase alfa, recombinant) Inhalation Solution, for the management of cystic fibrosis patients to improve pulmonary function
  • TNKase® (Tenecteplase), a single-dose clot-busting agent for the treatment of acute myocardial infarction

Commitment to Patient Access Genentech is committed to patients having access to our therapies. Through its Genentech Access Solutions program, the company provides patients and healthcare providers with coverage and reimbursement support, patient assistance and informational resources. Patient assistance support is for those eligible patients in the United States who do not have insurance coverage or who cannot afford their out-of-pocket co-pay costs. Since 1985, when its first product was approved, Genentech has donated approximately $1 billion in free medicine to uninsured patients through the Genentech® Access to Care Foundation (GATCF) and other product donation programs. Since 2005, Genentech has also donated more than $140 million to various independent non-profit organizations that provide financial assistance to eligible patients who cannot access needed medical treatment due to co-pay costs.

Corporate Growth Strategy Our Horizon 2010 vision and goals will help ensure that we are solidly positioned to continue our 32-year mission of discovering, developing, manufacturing and commercializing life-enhancing and life-saving medicines for patients with unmet medical needs. Originally announced in March 2004, the company provided an update to its Horizon 2010 goals in March 2006.

Our Vision
Utilize the science of biotechnology to become a leader in revolutionizing the treatment of patients with cancer, immunological diseases and angiogenic disorders.

Our Goals

  • To bring at least 20 new molecules into clinical development.
  • To bring at least 15 major new products or indications onto the market.
  • To become the number one U.S. oncology company in sales.
  • To achieve an average compound annual non-GAAP earnings per share1 growth rate of 25 percent.
  • To achieve cumulative free cash flow2 of $12 billion.

Our Corporate Growth Strategy contains forward-looking statements regarding adding 20 molecules into clinical development by 2010, bringing 15 major new products/indications onto the market by 2010, becoming the number one U.S. oncology company in sales by 2010, and Genentech's long-term growth, including growth in non-GAAP earnings per share (EPS) and cumulative free cash flow by 2010. Such statements are predictions and involve risks and uncertainties such that actual results may differ materially. Among other things, adding molecules into clinical development could be affected by a number of factors, including unexpected safety, efficacy or manufacturing issues, additional time requirements for data analysis, BLA preparation and decision making, need for additional clinical studies, and FDA actions or delays; bringing new products/indications to market could be affected by all of the foregoing and by a number of other factors, including failure to obtain or maintain FDA approval; becoming a leader in oncology sales could be affected by all of the foregoing and by a number of other factors, including competition, pricing, reimbursement, intellectual property or contract rights, the ability to supply product, product withdrawals and new product approvals and launches, and Genentech's growth, including growth in non-GAAP EPS and cumulative free cash flow, could be affected by all of the foregoing and by a number of other factors, including achieving sales revenue consistent with internal forecasts, costs of sales, R&D and MG&A expenses, stock-based compensation expense, unanticipated expenses such as litigation or legal settlement expenses or equity securities writedowns, royalties and contract revenues, and fluctuations in tax and interest rates. Please also refer to Genentech's periodic reports filed with the Securities and Exchange Commission. Genentech disclaims, and does not undertake any obligation to, update or revise any forward-looking statements in this Corporate Growth Strategy.

1 The non-GAAP EPS goal for 2006 through 2010 excludes the after-tax effects of the following items: employee stock-based compensation expense associated with our adoption of FAS 123R, recurring charges related to the redemption of our special common stock by Roche, litigation-related special charges for accrued interest and associated bond costs on the City of Hope judgment, certain items associated with the acquisition of Tanox, Inc. in the third quarter of 2007, including recurring recognition of deferred royalty revenue, recurring amortization of intangible assets, in-process research and development expenses (a non-recurring expense in the third quarter of 2007), and a gain pursuant to Emerging Issues Task Force (EITF) Issue No. 04-1 (a non-recurring gain in the third quarter of 2007), and other potential special charges related to existing or future litigation or its resolution, and changes in accounting principles, all of which may be significant. GAAP EPS for 2006 through 2010 would include the items described above.
2 Our free cash flow measure is defined as cash from ongoing operations less gross capital expenditures. Cash from ongoing operations is derived from the "net cash provided by operating activities" line in our consolidated statements of cash flows, but this number may be adjusted for items that would allow the measure to better reflect our operational performance. These adjustments include, for example, cash receipts or payments related to litigation settlements, investments in trading securities and other potential items, any of which may be significant.