Thursday, Oct 23, 2003
South San Francisco, Calif. -- October 23, 2003 --Genentech, Inc. (NYSE: DNA) announced today that it has been named by Science magazine as "the top employer and most admired company in the biotechnology and pharmaceutical industries" for the second year in a row. The honor is the result of a survey sponsored by Science magazine and conducted by Hughes Research Worldwide of Rockville, MD, involving readers of Science who work in the pharmaceutical, biotechnology, and biopharmaceutical industries in the United States and Western Europe.
"Scientists are at the core of our mission at Genentech. It is their hard work and creativity that results in the discovery of therapies for patients in need," said Richard Scheller, Ph.D., executive vice president, Research at Genentech. "For this reason, we cultivate the kind of company culture in which scientists can flourish - one that strikes a balance between applied research aimed at unmet medical needs and discretionary time for visionary basic research and individual initiative."
The survey was designed to assess which biotechnology and pharmaceutical companies enjoy the highest reputations amongst scientists in life science organizations and why. Respondents were asked to rank companies on a list of specific attributes and also to rank the attributes in order of importance. Similar to last year, Genentech was rated at or near the top for four of the eight attributes respondents deemed most important overall: aligned work and personal values, a clear vision of where the company is headed, a top leadership team that makes the changes necessary to keep the organization on track and treating employees with respect.
Genentech was founded 27 years ago with a focus on rigorous, groundbreaking science and a philosophy of attracting talented people and giving them the conditions to succeed. Today, the company's scientists publish an average of 250 to 300 papers a year and are among the top researchers in the world in terms of total citations. Genentech researchers also hold approximately 4,300 patents worldwide and have close to 5,000 patent applications pending. The company will complete a major expansion of its Founders' Research Center in late 2003, which will make the Center the world's largest single-site facility for biotechnology research.
Genentech is a leading biotechnology company that discovers, develops, manufactures and commercializes biotherapeutics for significant unmet medical needs. Sixteen of the currently approved biotechnology products originated from or are based on Genentech science. Genentech manufactures and commercializes 11 biotechnology products 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. For additional information about the company, please visit http://www.gene.com.
For further information about Genentech's research organization, please log onto http://www.gene.com/gene/research/.