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2Q Financial Report: Genentech

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Genentech

2Q Revenues: $2.2 billion (+44%)

2Q Earnings: $531 million (+79%)

YTD Revenues: $4.2 billion (+40%)

YTD Earnings: $952 million (+64%)

Comments: U.S. product sales increased 41% in the quarter to $1.7 billion driven by Rituxan sales, up 17% to $526 million; Avastin sales up 72% to $423 million; Herceptin sales up 111% to $320 million and Tarceva sales up 47% to $103 million. R&D expenses increased 40% to $390 million in the quarter.

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