Wednesday, Mar 3, 2004
South San Francisco, Calif. -- March 3, 2004 --Genentech, Inc. (NYSE: DNA) announced its board of directors has conditionally approved a two-for-one split of the Company's common stock in the form of a stock dividend. This stock split will be effected only if stockholders approve an increase in Genentech's authorized common stock at the Annual Meeting of Stockholders, to be held on April 16, 2004. The record and distribution dates will be determined by the Board after the stockholder's meeting if the increase in Genentech's authorized common stock is approved. As of February 17, 2004, Genentech had approximately 527 million shares issued and outstanding.
Genentech is a leading biotechnology company that discovers, develops, manufactures and commercializes biotherapeutics for significant unmet medical needs. Eighteen of the currently approved biotechnology products originated from or are based on Genentech science. Genentech manufactures and commercializes 13 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.