Genentech Beats Forecast but Slips on a Core Drugâs Sales
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Genentech reported a 6 percent rise in fourth-quarter profit, but its stock slipped after news that its cancer drug, Avastin, failed to meet sales expectations.
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Genentech Inc.  said second-quarter profit on Wednesday rose 41 percent, fueled by cost cutting and growth from its cancer drug Avastin.
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Patients taking an experimental multiple sclerosis drug developed by Biogen Idec Inc.  and Elan Corp.  experienced far fewer relapses in a clinical trial, data that analysts say could give the drug a dominant market position.
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INDIANAPOLIS, July 24  â Eli Lilly, with help from its core medicines Zyprexa and Cymbalta, beat Wall Streetâs second-quarter expectations Tuesday, although profits fell 19 percent at the pharmaceutical company because of acquisition costs.
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Swiss pharmaceutical giant Novartis on Thursday announced record earnings over the first nine months of the year, but third quarter profits fell 12 percent on sharper competition from generic drugs.
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The beleaguered drug giant&#39;s lowered forecast isn&#39;t as bad as Wall Street expected. But investors still await the long-term prognosis.
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Novartis and Wyeth reported that third-quarter earnings were hit by charges, while Eli Lilly beat expectations as sales of several of its drugs outpaced analystsâ estimates.
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Genentech Inc. (DNA.N: Quote, Profile, Research) on Wednesday posted a 50 percent rise in quarterly profit and raised its full-year earnings forecast on strong sales of
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Merck and Schering report bad news, but how much will it affect sales?
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Amgen Inc. AMGN.O, the world's  biggest biotechnology company, on Wednesday said quarterly net  profit fell on acquisition charges, but adjusted earnings rose  21 percent on strong sales of its drugs for anemia and  arthritis.
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Merck & Co.  on Wednesday stood by its forecast of flat earnings for 2006 and projected slightly higher 2007 results, in line with Wall Street expectations, as the drugmaker grapples with generic competition for a number of its medicines.
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The pharmaceutical company reported a 5 percent increase in fourth-quarter earnings but said growth would slow this year as generic competition picked up.
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Biotechnology stocks moved lower Friday as Genentech Inc. and OSI Pharmaceuticals lost value despite an earlier-than-expected approval of their lung cancer drug Tarceva.
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SAN FRANCISCO (CBS.MW) -- Research In Motion shares slipped early Friday, but bounced off their lows, after the maker of the popular handheld device said sales in the current quarter would just match Wall Street&#39;s expectations.
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Sanofi-Aventis  posted higher than expected fourth-quarter profits on Tuesday and predicted more growth for 2007, but a further delay in its key new anti-obesity drug Acomplia hit the shares.
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Genentech Inc.  said on  Tuesday second-quarter net income rose 79 percent on higher  demand for cancer medicines and raised its full-year forecast,  but its stock fell as sales of colon cancer drug Avastin  disappointed investors.
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Genentech said a low dose of its cancer drug worked just as well as a more expensive high dose in a clinical trial.