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Article: Genentech gains on Amgen
- Article from:
- Oakland Tribune
- Article date:
- July 16, 2007
- Author:
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Copyright informationCopyright 2007 Oakland Tribune. Provided by ProQuest LLC. (Hide copyright information)
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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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