Lawsuit Against Genentech Alleging Patent Infringement Goes to the Jury
By RALPH T. KING JR.
Staff Reporter of THE WALL STREET JOURNAL
May 21, 1999
SAN FRANCISCO -- The jury will begin deliberations Monday in a complex patent-infringement case against Genentech Inc. involving strange twists in testimony and potential damages of $200 million or more. The lawsuit, filed in San Francisco federal court by the University of California at San Francisco in 1990, accuses biotechnology pioneer Genentech of using or copying patented university technology to make human-growth hormone, the company's first product, which has generated roughly $2 billion in sales. Genentech denies the charge, citing extensive lab records and three growth-hormone patents of its own. Evidence in the trial, which began in mid-April, has included highly technical concepts, such as how genetic material is turned into drugs. It has also included allegations that two former Genentech scientists used the university's technology and then made a pact to keep it a secret. A quick verdict is unlikely, given such assertions and the fact that key events occurred more than 20 years ago, legal experts say......
DJ Roche CEO:Genentech "Confident" Of Patent Case Win -Paper
Dow Jones Newswires
5/22/1999
ZURICH -- Switzerland's Roche Holding AG's (ROHHY) chief executive officer said Saturday its affiliate Genentech (GNE) is confident it will win a pending patent-infringement case.
The jury will begin deliberations Monday in a closely watched patent-infringement lawsuit brought against biotechnology giant Genentech Inc. by the University of California.
South San Francisco-based Genentech (GNE), which is majority-owned by Switzerland's Roche Holding AG, could be forced to pay damages of up to $1.2 billion if it loses the case, according to experts. The university alleges that Genentech's human growth hormone treatment Protropin was developed using technology developed at the school and protected by a 1982 patent.
"Genentech is confident it will win the case," Franz Humer said in an interviw with Swiss business newspaper Finanz und Wirtschaft.
The case comes to a head at a time of uncertainty for Genentech. Within a month, the company's majority owner, Roche Holding Ltd., Basel, must decide whether to buy the 33% of Genentech it doesn't already own for $82.50 a share under an option that is about to expire. A verdict against the company could depress Genentech's stock, making it more attractive to Roche.
options.nasdaq-amex.com
Most Active LEAPS
Last Sale Net Change Volume Open Int Best Bid Best Ask No LEAPS trading at this time.
Most Active Calls
Last Sale Net Change Volume Open Int Best Bid Best Ask
MAY 1999 CALL 7.5 QTGEU $0.0625 -0.1875 244 678 $0 $0.06
JUN 1999 CALL 7.5 QTGFU $0.625 -0.125 130 272 $0.56 $0.75
OCT 1999 CALL 7.5 QTGJU $1.5 -0.375 8 599 $1.38 $1.63
Most Active Puts
Last Sale Net Change Volume Open Int Best Bid Best Ask No Puts trading at this time.
|
