A West German firm bought 4.9% of Genentech.
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Boehringer Ingelheim International, one of West Germany’s largest drug companies, paid $40 million for 750,000 shares of the South San Francisco biotechnology company. The companies also said they are completing an agreement for Boehringer to commercialize a Genentech product in Europe. The product is a protein found in the human immune system that preliminary tests show may be able to kill cancer tumors without harming healthy cells. Boehringer specializes in cardiovascular and respiratory drugs.
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