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First in its class In 1976, Robert Swanson and Dr. Herbert Boyer founded Genentech Inc., the world's first biotechnology company. Despite encountering early skepticism, Genentech surprised its critics when it cloned human insulin, using a technique patented by Boyer. Genentech's insulin was the first biotechnological product ever to be approved by the FDA, going on sale in 1982. After five years and $200 million worth of research, the company enjoyed notable success when it released Activase, a blood clot treatment for heart attack victims, in 1988. Activase racked up $180 million in sales during its first year on the market, setting a record for its time. Today, Genentech is the second-largest biotechnology company in the world, with profits steadily on the rise. Unnatural growth In 1990, Roche Holdings, the Swiss pharmaceutical giant, bought 60 percent of Genentech for $2.1 billion. The deal created a stir in the industry, and permitted Genentech to devote $500 million to research and development. During the mid-'90s, Genentech faced several hurdles, including a lawsuit that alleged the company had pressured doctors into prescribing human growth hormones for children small for their age but otherwise normal. Following the controversy, Genentech appointed Arthur Levinson as CEO. With Levinson at the helm, Genentech seemed to regain its footing, and won FDA approval in 1997 for Rituxan, a treatment for non-Hodgkin's lymphoma. In the pipeline Genentech has wowed industry analysts with numerous projects in development and strong sales slated for the future. Part of Genentech's success has resulted from alliances with other biotech and pharmaceutical firms, which allow the company to cut costs and development time. A prime example is the anti-lymphoma drug Rituxan, developed in conjunction with IDEC Pharmaceuticals. In 1998, Rituxin generated $162.6 million in sales, only one year after it entered the pharmaceutical market. Other projects in development include drugs to combat asthma-induced allergies, diabetes-related nerve damage, psoriasis, breast cancer, and human growth dysfunctions. Finally, the company has indicated a willingness to buy up smaller companies that focus primarily on one or two products. Activase remains Genentech's top seller, although industry observers agree that the drug is fairly mature. In October 1998, the company unveiled a $250 million manufacturing facility to produce Herceptin, an anti-breast cancer drug that received instant FDA approval. When combined with chemotherapy, Herceptin slows the spread of metastatic breast cancer, a particularly brutal form of the disease. Beyond helping thousands of cancer patients, Herceptin brought Genentech $30.5 million in 1998. Combined sales from Herceptin and Rituxan led Genentech's income to jump 41 percent in 1998, to total earnings of $181.9 million. In summer 2000, however, Genentech hit a roadblock. In June, Chiron sued Genentech, claiming that the manufacture and sale of Herceptin by Genentech infringes on a Chiron patent.
Because Genentech is "cutting back, making things more streamlined," there have been regular hiring freezes, so getting in the door is no easy task. "There are many on-site campus interviews at different schools" when Genentech is hiring. One insider warns: "If you'd like to do research, be advised we get literally hundreds of applications for any one job opening in research. Your odds are better if you get into manufacturing and make contacts and then apply to research after working here a couple of years." Regarding qualifications, one insider tells us that "we look for people who can learn new techniques quickly, who can create mountains of well-controlled data when necessary, and who can interact well in collaborations within the company." Candidates at Genentech can expect to interview with several employees in the lab or department offering the position, as well as human resourcest. Unlike other biotech firms, Genentech's interview process is said to be largely laid back. One insider remarked: "I imagine overall, the whole interview process at Genentech is more informal than you might be used to, which is not to say that you shouldn't get dressed up for an interview - you still want to look snazzy, as always (just be prepared to stand out, since everyone around you will most likely be wearing blue jeans, shorts, etc)." "No surprises or tricks," adds another, who continues: "the idea is to match your qualifications and goals to a position that Genentech needs filled."
Genentech U. Genentech insiders liken the company to a college: "Basically my description in a nutshell would be that it's like a university atmosphere." "It is more like a college campus than a company," says another. "The corporate culture closely mirrors the campus atmosphere of academia." Employees enjoy a "laid-back culture," with "no policy manuals." Those in research and development appreciate an atmosphere that is "encouraging of freedom." "The company understands that its future is new products and so tries to establish an environment conducive to creativity." This apparently extends to extracurricular projects: "Our scientists are allowed to work on their own projects several times a month." Dust off those Birkenstocks College campuses are, of course, usually devoid of suits. "Most people were jeans and sneakers," says one employee. Another agrees: "You will find the majority of employees in T-shirts, jeans, shorts, tennis shoes, birks - oh - and lab coats too." And what would college be without a little partying? "Genentech is a very social environment. On Friday the company has 'Ho-Ho's' - gatherings to mingle with co-workers and friends," reports one employee. These get-togethers, usually on campus between 5 and 7, are well-loved by Genentech employees. One insider noted the presence of many "Genencouples." Student budgets Unfortunately, Genentech insiders sometimes sound like starving graduate students. Some chalk it up to living in San Francisco. "Pay is decent but the Bay Area is really expensive." Others blame the company: "You might find better pay at one of the smaller BioTech companies that seem to be popping up all over the Bay Area." "Genentech pays slightly below the industry standard," says another, "but the Human Resources group is supposed to implement an adjustment based on the industry standard." Not everyone is so optimistic: "The compensation is measly." Great benefits The poor pay at Genentech is offset by what employees describe as "one of the best benefit packages in the country." "You will be hard-pressed to find a better benefit package around," says one satisfied insider, listing "medical, dental, vision, long term disability, employee stock program, 401(k)." Employees get about 10 holidays plus three weeks vacation. After six years, Genentech employees are rewarded with a six-week sabbatical. There's also an "education reimbursement program so that you can take courses relative to your field, pursue a Master's or Ph.D. and get reimbursed." And campus perks include: "subsidized cafeterias, a credit union, travel department, medical services and an ATM." Health care coverage extends to the entire family of Genentech employees, including same-sex partners. Employees also enjoy "Date Night," a company-sponsored event that allows workers with children some free time with their spouse/significant other. The company day-care center (dubbed 2nd Generation)stays open until 10 P.M. once every three months, babysitting in a "slumber-party" atmosphere. Genentech parents get a rare night alone. There is a fee ($20 for the first child, $16 for each additional sibling), but Genetech winds up picking up half the tab. Hardworking but happy Employees report working "hard," "fact-paced," and "sometimes long hours." One says there is a minimum expected number of work hours (40) and "no limit as to how many hours you want to put in." However, employees at the company appreciate flexible hours for non-shift workers: "there are no strict starting or quitting times." "People are very dedicated to science and hard work," comments one insider. "I have been with Genentech for nine years and have no plans of moving on," reports another employee, "even though in my position I have been offered several attractive opportunities with other biotech organizations."
Human Resources (415) 225-2580
Activase;Protropin;Nutropin;Pulmozyme;Herceptin;Rituxan
Biogen More Company Profiles For more career information, go to Vault.com ©2000, Vault.com Inc
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