Monday, Sep 13, 1999
South San Francisco, Calif. -- September 13, 1999 --Genentech, Inc. (NYSE: DNA) today announced the launch of its annual "Genentech Goes to Town" program. Beginning today through September 24, approximately 4,000 employees will spend $100,000 in South San Francisco's restaurants and retail stores at the seventh annual "Genentech Goes to Town" event, bringing the total spent in South San Francisco under this program since 1993 to more than $600,000.
"Genentech Goes to Town" is designed to support South San Francisco, Genentech's hometown of 23 years, by encouraging its employees to shop locally for goods and services. This year, Genentech will give $25 worth of "GenenMoney" to each of its regular and temporary employees, post-doctoral fellows, summer interns and visiting scientists. The special coupons are redeemable only at participating South San Francisco businesses. Throughout the two-week program, special shuttle buses will take employees back-and-forth from Genentech to downtown South San Francisco.
South San Francisco Mayor Jim Datzman will kick-off "Genentech Goes to Town" today by presenting a proclamation to Genentech recognizing its contributions to the economic development of South San Francisco.
"Genentech believes in giving back to its community," said James Panek, Genentech senior vice president. "One of the ways it does this is through this program, which enables Genentech employees and the city to come together as caring neighbors in a mutually beneficial event."
"The success of the "Genentech Goes to Town" program is symbolic of the partnership between Genentech, the City of South San Francisco and local merchants," said Datzman. "Bringing the program to South San Francisco for a seventh year represents Genentech's strong commitment to boost the economic development of the city."
Headquartered in South San Francisco for 23 years, Genentech, Inc. is a leading biotechnology company that discovers, develops, manufactures and markets human pharmaceuticals for significant unmet medical needs. Twelve of the currently marketed biotechnology products stem from Genentech science. Genentech markets seven products directly in the United States. The company has headquarters in South San Francisco, California and is traded on the New York Stock Exchange under the symbol DNA.
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