At the end of March, Swiss drugmaker Roche achieved its long-sought acquisition of Genentech, the pioneering biotechnology company in South San Francisco, California. Long before the deal was official, biotech analysts, former Genentech employees, and others bemoaned what they saw as the end of an era. Surely the buttoned-down pharmaceutical behemoth would crush the famously innovative culture at Genentech, where scientists have relished their freedom to pursue pet projects in basic science and the laid-back work environment, which among other niceties features Friday night "ho-hos," or keg parties. People inside and outside Genentech credit its culture for its success as the first biotech company (it was founded in 1976) and one of the most profitable.
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