Genentech profit up 6 percent, Avastin disappoints
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Biotechnology company Genentech Inc  said on Monday its fourth-quarter profit rose 6.4 percent, but sales of its blockbuster cancer drug and others fell short of investor expectations, sending the company's shares lower.
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World&#39;s No.2 biotech company beats Wall Street consensus and raises its full-year profit forecast. NEW YORK  - Genentech Inc.
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Genentech Inc.  on Wednesday said third-quarter earnings rose 50 percent, spurred by growth in new colon cancer treatment Avastin and strong sales of its older drugs, and raised its full-year profit forecast.
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Swiss drugmaker Novartis AG   missed forecasts with a 42 percent drop in  fourth-quarter net profit, hit by generic competition and a  one-off restructuring charge, sending its shares lower.
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Shares of Biogen Idec BIIB.O climbed  6 percent before the bell on Monday, after better test results  for a multiple sclerosis drug it developed with Elan Corp.
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Genentech Inc. and Swiss drug maker Roche Holding AG said Monday that a recent study showed their colon cancer drug Avastin significantly extended patient survival when combined with an oxaliplatin-based chemotherapy drug.
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Genentech's stock is even more expensive than you think.
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The biotechnology company reported fourth-quarter net income of $201.2 million on strong sales of its two leading drugs, Rituxan and Avonex.
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BASEL, Switzerland  - Novartis AG fourth-quarter net profit fell 42 percent to $931 million, missing forecasts, hit by generic competition and a one-off restructuring charge, the Swiss drugmaker said on Thursday.
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Genzyme Corp. , the biotech firm expanding into the market for cancer treatments, said fourth-quarter revenue rose 23 percent to $591 million on higher sales of its Cerezyme treatment for Gaucher disease. Revenue increased from $481 million a year earlier, the Cambridge company said in an e-mailed statement. Profit for the full year 2004, excluding some items, rose to $1.75 ...
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Genentech's cancer drug Avastin helped patients with advanced kidney cancer live twice as long as those on standard therapy alone, according to a study released on Saturday.
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Novartis  missed  expectations with a 4 percent rise in second-quarter net income  to &#36;1.713 billion on Monday, as heavy charges from the Swiss  drug giant&#039;s acquisition of U.S. biotech firm Chiron weighed.
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Teva Pharmaceutical Industries Ltd.,  the world's largest generic drugmaker, reported higher  fourth-quarter profit on Tuesday, helped by the weak U.S.  dollar and European sales of gabapentin, its version of Pfizer  Inc.'s epilepsy drug Neurontin.
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Biogen Idec Inc. BIIB.O on Monday  reported a quarterly profit on sales of its multiple sclerosis  and cancer drugs versus a year-ago loss, but said costs will  rise in 2005, trimming earnings growth and weighing on shares.
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Genentech (nyse: DNA - news - people ) will announce third-quarter results. The biotechnology firm said yesterday it received a subpoena from the US Attorney&#39;s Office in relation to the marketing of Rituxan, a treatment for a type of blood cancer.
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Merck & Co  reported a better-than-expected profit on Monday, helped by sales of its vaccines and cholesterol drugs, and raised its 2007 profit forecast.
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Genentech Inc. and Swiss drug maker Roche Holding AG said Monday that a recent study showed their colon cancer drug Avastin significantly extended patient survival when combined with oxaliplatin-based chemotherapy drugs.