Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
JUELSGAARD STEPHEN G
   2. Issuer Name and Ticker or Trading Symbol
GENENTECH INC [DNA] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
EVP, CCO & SECRETARY
(Last)
(First)
(Middle)
1 DNA WAY		 3. Date of Earliest Transaction (Month/Day/Year)
07/18/2008
(Street)

SO SAN FRANCISCO, CA 94080		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 07/18/2008   M   400 A $ 42.05 5,867 D  
Common Stock 07/18/2008   S   400 D $ 81.98 5,467 D  
Common Stock 07/18/2008   M   200 A $ 42.05 5,667 D  
Common Stock 07/18/2008   S   200 D $ 81.99 5,467 D  
Common Stock 07/18/2008   M   600 A $ 42.05 6,067 D  
Common Stock 07/18/2008   S   600 D $ 82.02 5,467 D  
Common Stock 07/18/2008   M   1,000 A $ 42.05 6,467 D  
Common Stock 07/18/2008   S   1,000 D $ 82.03 5,467 D  
Common Stock 07/18/2008   M   2,100 A $ 42.05 7,567 D  
Common Stock 07/18/2008   S   2,100 D $ 81.92 5,467 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option (right to buy) $ 42.05 07/18/2008   M     1,000 09/11/2003(1) 09/11/2013 Common Stock 1,000 $ 0 224,000 D  
Non-Qualified Stock Option (right to buy) $ 42.05 07/18/2008   M     5,600 09/11/2003(1) 09/11/2013 Common Stock 5,600 $ 0 218,400 D  
Non-Qualified Stock Option (right to buy) $ 42.05 07/18/2008   M     1,800 09/11/2003(1) 09/11/2013 Common Stock 1,800 $ 0 216,600 D  
Non-Qualified Stock Option (right to buy) $ 42.05 07/18/2008   M     700 09/11/2003(1) 09/11/2013 Common Stock 700 $ 0 215,900 D  
Non-Qualified Stock Option (right to buy) $ 42.05 07/18/2008   M     2,600 09/11/2003(1) 09/11/2013 Common Stock 2,600 $ 0 213,300 D  
Non-Qualified Stock Option (right to buy) $ 42.05 07/18/2008   M     1,202 09/11/2003(1) 09/11/2013 Common Stock 1,202 $ 0 212,098 D  
Non-Qualified Stock Option (right to buy) $ 42.05 07/18/2008   M     850 09/11/2003(1) 09/11/2013 Common Stock 850 $ 0 211,248 D  
Non-Qualified Stock Option (right to buy) $ 42.05 07/18/2008   M     500 09/11/2003(1) 09/11/2013 Common Stock 500 $ 0 210,748 D  
Non-Qualified Stock Option (right to buy) $ 42.05 07/18/2008   M     148 09/11/2003(1) 09/11/2013 Common Stock 148 $ 0 210,600 D  
Non-Qualified Stock Option (right to buy) $ 42.05 07/18/2008   M     1,700 09/11/2003(1) 09/11/2013 Common Stock 1,700 $ 0 208,900 D  
Non-Qualified Stock Option (right to buy) $ 42.05 07/18/2008   M     1,200 09/11/2003(1) 09/11/2013 Common Stock 1,200 $ 0 207,700 D  
Non-Qualified Stock Option (right to buy) $ 42.05 07/18/2008   M     1,500 09/11/2003(1) 09/11/2013 Common Stock 1,500 $ 0 206,200 D  
Non-Qualified Stock Option (right to buy) $ 42.05 07/18/2008   M     200 09/11/2003(1) 09/11/2013 Common Stock 200 $ 0 206,000 D  
Non-Qualified Stock Option (right to buy) $ 42.05 07/18/2008   M     1,000 09/11/2003(1) 09/11/2013 Common Stock 1,000 $ 0 205,000 D  
Non-Qualified Stock Option (right to buy) $ 42.05 07/18/2008   M     700 09/11/2003(1) 09/11/2013 Common Stock 700 $ 0 204,300 D  
Non-Qualified Stock Option (right to buy) $ 42.05 07/18/2008   M     400 09/11/2003(1) 09/11/2013 Common Stock 400 $ 0 203,900 D  
Non-Qualified Stock Option (right to buy) $ 42.05 07/18/2008   M     200 09/11/2003(1) 09/11/2013 Common Stock 200 $ 0 203,700 D  
Non-Qualified Stock Option (right to buy) $ 42.05 07/18/2008   M     600 09/11/2003(1) 09/11/2013 Common Stock 600 $ 0 203,100 D  
Non-Qualified Stock Option (right to buy) $ 42.05 07/18/2008   M     1,000 09/11/2003(1) 09/11/2013 Common Stock 1,000 $ 0 202,100 D  
Non-Qualified Stock Option (right to buy) $ 42.05 07/18/2008   M     2,100 09/11/2003(1) 09/11/2013 Common Stock 2,100 $ 0 200,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
JUELSGAARD STEPHEN G
1 DNA WAY
SO SAN FRANCISCO, CA 94080		       EVP, CCO & SECRETARY  

Signatures

 STEPHEN G JUELSGAARD   07/21/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) This stock option vests over four years, with the first 25% of the shares vesting one year from the grant date and 75% of the shares vesting in equal monthly increments over the following three years. The option may be immediately exercisable with the consent of Genentech.

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