Case Studes in Entrepreneurship, Family Businesses, Social Entrepreneurship

Code : ENT0001

Year :2003

Industry : Health Care

Region : USA

Teaching Note:Not Available

Structured Assignment :Not Available

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Introduction: Genentechwas the pioneer of biotechnology industry in theworld. Itwas founded onApril7th 1976, by venture capitalist RobertA. Swanson (Swanson) and biochemistDr. HerbertW. Boyer (Boyer). In the early1970s,Boyer and a geneticistStanleyCohen, pioneered a newscientific field calledrecombinantDNAtechnology.Swansonrecognizedthepotentialand the commercialviability of the newtechnology.He convincedBoyer to start the first biotechnology company in theworld, Genentech.As of2003,Genentechmanufactured and commercialised 12 protein-based products for serious or life-threatening medical conditions. Genentech had one of the leading product portfolios in the biotech industry. It received recognition and awards for its overall performance, its workplace culture, contributions to the community, and its patient advocacy, on many occasions.Genentech, its founders and itsmanagement, particularly the currentCEOArthurD. Levinson (Levinson), were recognised as leaders in the biotechnology industry.

Levinson, whowas the chairman and CEO of Genentech, received the Irvington Institute’s2 , 1999 Corporate LeadershipAward in Science and the National Breast Cancer Coalition’s3 (NBCC), 1999Corporate LeadershipAward. Forbes listed Levinson among themost powerful people in the US. Under his stewardship, Genentech’s revenues increased from $917.8 million in 1995 to $2.7 billion in 2002. In 2002, Genentech was next to onlyAmgen in the biotechnology industry. In 2002,Amgen recorded $5.5 billion in revenue.

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