Tuesday, Jan 9, 1990
Marks FDA Division's First Electronic Filing -- January 9, 1990 --Genentech, Inc. today announced that the company surpassed 1989 goals for sales of its two products, Activase®, tPA, and Protropin®, human growth hormone. For the year ended December 31, 1989, the company attained Activase; sales of $196.4 million, a 30 percent increase over the previous year's sales of $151.4 million. Sales of Protropin increased 10 percent to $122.7 million from $111.1 million in 1988. Previously stated 1989 sales goals for Activase called for 20-25 percent growth. Full 1989 fourth quarter and year-end results will be announced later this month.
Speaking at the Hambrecht & Quist Annual Health Care Conference earlier today, Robert A. Swanson, chief executive officer of Genentech, said that both products continue to dominate their markets against large pharmaceutical company competition. "Our flagship product, Protropin dominates the market for growth hormone with an estimated three-quarters share, and Activase leads the thrombolytic therapy market with roughly two-thirds share," he said.
Swanson attributes the accomplishment to two key factors: expansion of the sales force and a significant increase in the number of patients receiving thrombolytic therapy. Other 1989 accomplishments cited were the entry of three new products into human clinical trials and the filing of a Product License Application with the Food and Drug Administration for use of Actimmune, gamma interferon, in treating Chronic Granulomatous Disease. The three drugs entered into Phase 1 clinical trials are: CD4-IgG, for the treatment of AIDS; Argatroban, a blood clot-inhibiting agent, and insulin-like growth factor, for a variety of nutritional and growth disorders.
Genentech, Inc. is a leading biotechnology company focusing on the development, manufacture and marketing of pharmaceuticals produced by recombinant DNA technology.
# # #