Thursday, Mar 21, 1985
South San Francisco, Calif. -- March 21, 1985 --Genentech, Inc. announced today that it has formed a Canadian marketing joint venture, called Genentech Canada, with Boehringer Ingelheim (Canada) Ltd. Under equal ownership, the new venture will have its own sales and marketing organization in Canada to commercialize human pharmaceuticals developed by Genentech and sold under the Genentech label.
"This is an important milestone in Genentech's long-range plan to become a worldwide pharmaceutical company," said Robert A. Swanson, chief executive officer. "Without diverting resources from our U.S. marketing group, we can now build a sales and marketing organization to serve the important Canadian marketplace."
"Genentech chose the route of a joint venture in order to best serve the pharmaceutical needs of Canadian physicians and their patients," said Swanson."Our partner has a strong Canadian presence and over twenty years of pharmaceutical marketing experience in Canada."
Boehringer Ingelheim (Canada) Ltd. currently enjoys one of the strongest growth trends in the Canadian pharmaceutical industry, and has recently expanded into two specialty divisions -- cardiovascular and respiratory/gastrointestinal -- thus offering one of the largest and most sophisticated marketing organizations in Canada. The company provides the joint venture with Canadian marketing, regulatory and medical services expertise and well-established distribution, financial and administrative resources which will facilitate the introduction of Genentech's new generation pharmaceutical products for the benefit of the Canadian public and medical community.
Initial products to be marketed in Canada include three pharmaceuticals now in human clinical evaluation: human growth hormone, for the treatment of short stature due to growth hormone deficiency; gamma interferon, offering promise in the treatment of certain cancers and viral diseases; and tissue-type plasminogen activator, a blood clot-dissolving agent for victims of heart attacks and other life threatening conditions. When the products receive marketing approval, they will be sold by Genentech, Inc. to Genentech Canada for marketing in Canada. The products will be marketed in the U.S. by Genentech, Inc.
All are products that are natural to the body but have been previously limited in supply or unavailable. They are being manufactured by Genentech, through the use of recombinant DNA technology ("genetic engineering").
Genentech, Inc. is a leading biotechnology company, focusing on the development, manufacture and marketing of pharmaceuticals produced by recombinant DNA technology.
Boehringer Ingelheim (Canada) Ltd. is a Canadian pharmaceutical company with particular strength in the areas of cardiovascular and respiratory products. It is a member of the worldwide Boehringer Ingelheim group, a multinational pharmaceutical organization based in West Germany.
# # #