Genentech
The Beginnings of Biotech
9780226045511
9780226359205
Genentech
The Beginnings of Biotech
In the fall of 1980, Genentech, Inc., a little-known California genetic engineering company, became the overnight darling of Wall Street, raising over $38 million in its initial public stock offering. Lacking marketed products or substantial profit, the firm nonetheless saw its share price escalate from $35 to $89 in the first few minutes of trading, at that point the largest gain in stock market history. Coming at a time of economic recession and declining technological competitiveness in the United States, the event provoked banner headlines and ignited a period of speculative frenzy over biotechnology as a revolutionary means for creating new and better kinds of pharmaceuticals, untold profit, and a possible solution to national economic malaise.
Drawing from an unparalleled collection of interviews with early biotech players, Sally Smith Hughes offers the first book-length history of this pioneering company, depicting Genentech’s improbable creation, precarious youth, and ascent to immense prosperity. Hughes provides intimate portraits of the people significant to Genentech’s science and business, including cofounders Herbert Boyer and Robert Swanson, and in doing so sheds new light on how personality affects the growth of science. By placing Genentech’s founders, followers, opponents, victims, and beneficiaries in context, Hughes also demonstrates how science interacts with commercial and legal interests and university research, and with government regulation, venture capital, and commercial profits.
Integrating the scientific, the corporate, the contextual, and the personal, Genentech tells the story of biotechnology as it is not often told, as a risky and improbable entrepreneurial venture that had to overcome a number of powerful forces working against it.
An audiobook version is available.
232 pages | 19 halftones | 6 x 9 | © 2011
Biological Sciences: Biochemistry
Economics and Business: Business--Business Economics and Management Studies
History: History of Technology
Reviews
Table of Contents
Prologue
Acknowledgments
1/ Inventing Recombinant DNA Technology
Two Scientists on Converging Paths
The Collaboration
Patenting and Politics
Steps toward Commercialization
2 / Creating Genentech
Bob Swanson
Founding Genentech
Legal and Political Obstacles
A Full Business Plan
3 / Proving the Technology
A Portentous Experiment
Switching Targets
Negotiating Research Agreements
Making Somatostatin
Wider Issues
4 / Human Insulin: Genentech Makes its Mark
Seeking Corporate Contracts
Procuring a Facility and Staff
Genentech’s Human Insulin Project
The Eli Lilly Contract
Publicity and Expansion
5 / Human Growth Hormone: Shaping a Commercial Future
Competing for Human Growth Hormone
Moving toward Corporate Integration
Scaling Up Insulin and Growth Hormone
Corporate Expansion
An Emerging Culture
6 / Wall Street Debut
Biomania
Exit Strategies
Interferon: The New Wonder Drug?
Run-up to an Initial Public Offering
Legal Impediments
The IPO
Epilogue
Notes
Bibliography
Oral History Bibliography
Index
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