Tuesday, Jun 28, 1994
South San Francisco, Calif. -- June 28, 1994 --Genentech, Inc. (NYSE: GNE) today responded to a federal court ruling that reverses a 1990 jury verdict that found Genetics Institute had infringed three patents owned by Genentech regarding tissue plasminogen activator (t-PA). Genentech is reviewing whether to seek reconsideration by the Court of Appeals. Company officials took the opportunity of the new ruling to reaffirm the company's progress since the litigation involving the 1990 jury verdict.
Since the 1990 jury verdict, Genentech obtained a new patent and has other applications pending at the Patent Office, which contain claims that should cover Genetics Institute's product NPA. "Genentech's leadership in the thrombolytic marketplace has only grown stronger in recent years, not only in terms of our patent positions, but in our basic research and clinical development initiatives," said G. Kirk Raab, Genentech's president and CEO.
"Clinical and scientific advancements also have taken place since 1990, for example Genentech's t-PA currently has a labeling change before the FDA requesting accelerated dosing," said Raab. "In addition, Genentech's second generation t-PA product, TNK, is covered by multiple patents owned by Genentech. It should be in clinical trials by the beginning of next year, and based on preliminary studies, promises an improved safety and efficacy profile based on its fibrin specificity," said Raab.
Genentech, Inc. is a leading biotechnology company that discovers, develops, manufactures and markets human pharmaceuticals for significant unmet medical needs. The company is headquartered in South San Francisco, California and is traded on the New York and Pacific Stock Exchange under the symbol GNE.
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