Genentech: The South San Francisco biotech firm’s...
From Times Staff and Wire Reports
Genentech: The South San Francisco biotech firm’s fiscal 1989 profit more than doubled to a record $44 million, as revenue climbed 20% to a record $400.5 million. For the fourth quarter, profit totaled $15.5 million, a turnaround from the 1988 period’s loss of $15.4 million; revenue jumped 24% to $111.4 million, largely because of growing product sales. Net sales of its heart attack drug, Activase, increased 30% last year to $196.4 million; sale of Protropin, a human growth hormone, rose 10% to $122.7 million for the year.
