Article: Genentech gains on Amgen

In the battle for bragging rights as the world's biggest biotech company, second-place Genentech Inc. is fast gaining on Amgen Inc.

The South San Francisco firm 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 last Tuesday, Genentech was worth $78.8 billion compared with $62.9 billion for Amgen.

Also last week, Genentech reported a 37 percent increase in revenue and a 41 percent jump in profit for the second quarter of the year, compared with the same period last year. For the three- month period that ended June 30, the company racked up $3 billion in revenue and $747 million in net income, largely ...

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