Wednesday, Aug 15, 1990
South San Franciso, Califo. -- August 15, 1990 --Genentech, Inc. and Abbott Laboratories today announced that an out-of-court settlement has been reached concerning a dispute over the validity of two plasminogen activator patents owned by Abbott and Abbott's claim that Genentech infringed the patents. Under the terms of the settlement, both companies agree to the dismissal of both parties' claims.
Genentech is a leading biotechnology company focusing on the development, manufacture and marketing of pharmaceutical products by recombinant DNA technology.
Abbott Laboratories is a worldwide manufacturer of health care products employing 42,000 people. In 1989, the company's sales and net earnings were $5.4 billion and $860 million respectively, with earnings per share of $1.93.
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