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Financial Report: Genentech

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Genentech

4Q Revenues: $3 billion (+9%)

4Q Earnings: $632 million (+6%)

YTD Revenues: $11.7 billion (+26%)

YTD Earnings: $2.8 billion (+31%)

Comments: U.S. product sales were up 19% to $8.5 billion for the year and $2.2 billion in the quarter, up 7%. Avastin sales for the year were $2.3 billion, up 32%. R&D expenses were $618 million in the quarter, up 11% and $2.4 billion YTD, up 38%. Results include approximately $4 million and $6 million of deferred royalty revenue associated with the acquisition of Tanox, Inc. in 4Q and YTD, respectively.

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