Tuesday, Jul 16, 1985
South San Francisco, Calif. -- July 16, 1985 --Genentech, Inc. and Ciba-Geigy Limited announced today that they had finalized an agreement to grant Ciba-Geigy rights to certain animal health care products, including animal interferons and selected other proteins.
Under the agreement, Ciba-Geigy will receive exclusive worldwide rights to manufacture and market the products. Terms of the Ciba-Geigy - Genentech agreement call for cash payments to Genentech of $42 million under certain conditions as well as ongoing royalties on product sales.
"Ciba-Geigy's international capabilities in animal health care and its determination to expand this part of its business in the United States and elsewhere will make for an excellent collaboration between our two companies," said Robert A. Swanson, chief executive officer of Genentech. "This agreement will ensure that our first generation of animal heath care products get quickly to market, without diverting our focus on a portfolio of exciting human pharmaceutical products."
"Genentech holds a leadership position in the application of recombinant DNA technology to human and animal health care," according to Dr. Heimo Brunetti, Head of Animal Health, Ciba-Geigy. "The products of our collaboration are expected to play a key role in the expansion of our animal health care business, particularly in the United States."
Genentech is a leading biotechnology company, focusing on the development, manufacture and marketing of pharmaceuticals produced by recombinant DNA technology.
Ciba-Geigy, headquartered in Basel, Switzerland, is a leading manufacturer and marketer of pharmaceutical, agricultural products, dyestuffs and chemicals, plastics and additives throughout the world.
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