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Court Ruling Opens Growth-Hormone Market

BRIEFLY / BIOTECHNOLOGY

January 20, 2000|Bloomberg News

Genentech Inc. said it plans to appeal a court ruling that invalidated one of its growth-hormone patents. U.S. District Judge Thomas Griesa in New York ruled that rival Bio-Technology General Corp. could enter the $350-million-a-year U.S. market for growth hormones, giving Genentech's Nutropin and Protropin new competition. South San Francisco-based Genentech, which is majority-owned by Swiss drug maker Roche Holding, is preparing to introduce a sustained-release growth hormone, Nutropin Depot, which it developed with Alerkmes Inc. Shares in Iselin, N.J.-based Bio-Tech General rose $1.72 to close at $15.19 on Nasdaq and Genentech rose $12.25 to close at $157.31 on the NYSE.

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