This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Genentech Announces Plans To Expand California Biologics Manufacturing Facilities

Genentech, a member of the Roche Group (SIX: RO, ROG; OTCQX: RHHBY), today announced plans to invest more than $285 million for the expansion of its biologics manufacturing facilities in Vacaville and Oceanside, California. “This investment and expansion will result in the addition of more than 250 new jobs at the Vacaville and Oceanside facilities over the next four years, bringing the total number of Genentech manufacturing jobs in California to close to 3,000,” said Ian Clark, Chief Executive Officer of Genentech. The company currently employs approximately 10,000 people in the state.

These investments in Genentech’s biologics manufacturing network will enable the hiring of hundreds of skilled workers, ranging from technicians to scientists and engineers. “California has always had an impressive skilled workforce that has allowed Genentech to hire diverse and talented individuals in various disciplines,” Clark said. “In recent years California has made great strides toward improving the business environment for life sciences innovation and incentivizing manufacturing. We are committed to working with the state to continue this positive progress and make California an even better place to grow the industry.”

Genentech’s United States manufacturing network spans three locations in California – South San Francisco, Vacaville, and Oceanside – and Hillsboro, Oregon, producing medicines intended for the treatment of a wide range of diseases including cancer, rheumatoid arthritis, and asthma. When the expansion is complete, Genentech’s Vacaville facility will not only be the largest producer of biologic medicines for the Roche Group but also the largest biotech manufacturing facility in the world.

About Biologics and Their Manufacturing

Biologic medicines are large molecules that are created by biological processes, rather than being chemically synthesized, and are typically administered via injection or intravenously. Roche is a world leader in biologic medicine manufacturing, with long-standing expertise in biotech manufacturing and has the largest biotech production capacity of any company worldwide.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs