Bio-Technology General Wins Patent Suit Against Genentech
Genentech Patent Ruled Invalid
ISELIN, N.J.--(BUSINESS WIRE)--Jan. 19, 2000-- Bio-Technology General Corp. (NASDAQ: BTGC - news), a New Jersey
biopharmaceutical company, today announced that in a lawsuit filed by BTG against Genentech, Inc., (NYSE: DNA - news), a
New York court found invalid a Genentech U.S. patent relating to a method for producing recombinant human growth hormone.
The ruling paves the way for the U.S. commercialization of BTG's recombinant human growth hormone, Bio-Tropin(TM), which
received U.S. FDA approval in 1995.
The trial, which took place in Manhattan in the United States District Court for the Southern District of New York, was presided
over by U.S. District Judge Thomas P. Griesa.
``We are thrilled with the court's decision that Genentech's Patent No. 4,601,980 is invalid,' stated Sim Fass, Chairman and CEO
of BTG. ``As a result of this landmark victory for BTG, the preliminary injunction that prohibited the commercial introduction in the
United States of our recombinant human growth hormone, Bio-Tropin(TM), has been vacated. We expect to be in position to
announce plans for commercialization of the product later this quarter.'
The U.S. pediatric market for recombinant human growth hormones is approximately $325 million. Sales of Genentech's human
growth hormone products amounted to approximately $214 million in 1998.
Bio-Technology General Corp., a leading biopharmaceutical company, develops, manufactures and markets genetically engineered
and other products for human health care. The Company's products are marketed in over thirty countries worldwide.
Statements in this news release concerning the Company's business outlook or future economic performance, anticipated
profitability, revenues, expenses or other financial items; and statements concerning assumptions made or expectations as to any
future events, conditions, performance or other matters, are ``forward-looking statements' as that term is defined under the
Federal Securities Laws. Forward-looking statements are subject to risks, uncertainties and other factors which could cause actual
results to differ materially from those stated in such statements. Such risks, uncertainties and factors include, but are not limited to,
changes and delays in product development plans and schedules, customer acceptance of new products, changes in pricing or
other actions by competitors, patents owned by the Company and its competitors, and general economic conditions, as well as
other risks detailed in the Company's filings with the Securities and Exchange Commission.
Contact:
Wolfe Axelrod Weinberger Associates
Don Weinberger
212/370-4500
or
Bio-Technology General Corp.
Leah Berkovits
732/632-8800 |
