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Financial Report: Genentech

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Genentech 3Q Revenues: $2.9 billion (+22%) 3Q Earnings: $685 million (+33%) YTD Revenues: $8.8 billion (+21%) YTD Earnings: $2.1 billion (+41%) Comments: U.S. product sales were $2.2 billion in the quarter, up 18%. Avastin sales were up 37% to $597 million. Rituxan sales were $572 million, up 12%. Lucentis sales were up 29% to $198 million. R&D expenses were up 35% in the quarter to $615 million, which includes an employee stock-based compensation expense of $37 million. ...

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