Friday, Jul 17, 1992
Revenues Increase by 5 Percent -- July 17, 1992 --Genentech, Inc. (NYSE: GNE) announced today that the United States District Court for the District of Delaware ruled yesterday in favor of Genentech, Inc. and Leuven Research & Development in the patent dispute with the Wellcome Foundation and Genetics Institute regarding tissue-plasminogen activator (t-PA).
In March of 1991 the court ruled that three patents for t-PA -- two held by Genentech and one exclusively licensed to Genentech by Leuven -- were valid, and that both a t-PA that was undergoing clinical studies by Wellcome and a modified t-PA being developed by Genetics Institute infringed those patents. Yesterday's order denies post-trial motions by Wellcome and Genetics Institute to reverse the March, 1991 ruling or to allow a new trial.
In June of this year, Genentech successfully defended its European t-PA patent in an opposition brought by seven companies before the European Patent Office; and in October, 1991 it prevailed in a lawsuit in Japan in a related t-PA patent case against Toyobo Co., Ltd.
Genentech markets t-PA under the brand name Activase® in the United States. Activase t-PA is a thrombolytic ("clot buster") approved for marketing by the U.S. Food and Drug Administration in 1987 for treating heart attacks and in 1990 for treating blood clots in the lungs.
Genentech, Inc. is a leading biotechnology company that discovers, develops, manufactures and markets human pharmaceuticals for significant medical needs. The company has headquarters in South San Francisco, California and is traded on the New York and Pacific Stock exchanges under the symbol GNE.
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