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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Genelabs Technologies Inc. GNLB.O  said on Tuesday that a late-stage trial of its drug to limit  bone loss in women with lupus disease failed to work, sending  the company's shares down 75 percent.
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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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MedImmune's shares sank nearly 9 percent yesterday after the company reported weaker-than-expected fourth-quarter revenue for two high-profile products and disclosed a delay in filing for federal approval of a new version of Synagis, its lead drug.
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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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I thought things were looking bad for Genta (Nasdaq: GNTA) back in May when the Food and Drug Administration&#39;s oncologic drugs advisory committee said the efficacy didn&#39;t
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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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Pharmaceutical stocks were mixed in afternoon trading, performing slightly better than the Dow Jones Industrial Average but seeing sharp declines in smaller stocks on clinical trial snags.
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Genentech Inc. (DNA.N: Quote, Profile, Research) on Wednesday said third-quarter earnings rose 50 percent, spurred by growth in new colon cancer treatment Avastin and strong sales of its
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Pfizer Inc.  on Wednesday reported lower-than-expected quarterly earnings on competition with generics and a surprisingly big 13 percent decline in sales of its best-selling Lipitor cholesterol fighter.
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Genentech, the biotechnology company, posted a 41 percent increase in second-quarter profit on sales of its cancer drugs, continuing a positive earnings streak.
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Biotechnology firm Genentech Inc. said Wednesday that its third-quarter profit topped Wall Street expectations on a sharp rise in drug sales, and raised its yearly forecast to meet current targets.
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The British pharmaceuticals giant GlaxoSmithKline announced a nine percent drop in annual pretax profits which were hit by sales of generic drugs and a weaker dollar, but the group looked ahead to a strong 2005.
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GlaxoSmithKline PLC reported a 5.8 percent drop in third-quarter net profit Wednesday on strong generic competition and falling sales of its blockbuster diabetes drug in the United States.
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BOSTON (CBS.MW) - Shares of Genentech were halted on Monday as the company announced that its oncology drug Avastin had been shown to extend the lives of some patients stricken with advanced colorectal cancer.
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YESTERDAY Close $75.73 Change +$2.22 52-WEEK High $76.90 Low $58.71 Genzyme Corp. of Cambridge said profit jumped tenfold as sales increased for its medicines for rare genetic disorders, some of the world's costliest drugs. The company gained 3 percent in New York trading.
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Boston Scientific Corp. , the state's largest life-science company, lost $3.6 billion last year thanks to its expensive acquisition of heart-device maker Guidant Corp. , and executives said yesterday they weren't certain when sales of its most important products would begin to recover from their slump.