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Article: Biotech's battle of titans: GENENTECH COMING ON FAST IN BID TO OVERTAKE AMGEN AS NO. 1, BUT SOME ANALYSTS SAY SUCH COMPETITION DETRACTS FROM DRUG R&D.(Company overview)
- Article from:
- San Jose Mercury News (San Jose, CA)
- Article date:
- July 11, 2007
CopyrightCOPYRIGHT 2007 San Jose Mercury News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Steve Johnson
Jul. 11--In the battle for bragging rights as the world's biggest biotech company, second-place Genentech is fast gaining on Amgen and could edge closer when it reports its earnings today.
The South San Francisco company already has built a lead over its Southern California rival in stock-market value since the fourth quarter of 2005. At the close of trading Tuesday, Genentech was worth $78.8 billion, compared with $62.9 billion for Amgen.
Moreover, Genentech is rapidly catching up in revenue, the measure primarily used to designate the industry's top dog. Ten years ago, it was hardly a race. Genentech's annual sales total ...