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Financial Report: Genentech 2Q

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Genentech
2Q Revenues: $3.2 billion (+7%)
2Q Earnings: $782 million (+5%)
YTD Revenues: $6.3 billion (+7%)
YTD Earnings: $1.8 billion (+21%)
Comments: Rituxan sales were $651 million in the quarter (+12%). Avastin sales were $650 million (+15%). Herceptin sales were $338 million (+3%). Tarceva sales were $119 million (+17%). Sales in the market reached $2.4 billion (+9%). Royalty revenue in the quarter was up 30% to $629 million primarily due to growth in ex-U.S. sales of the company’s products by collaborators and foreign exchange benefits of the weak dollar. R&D expenses in the quarter were $649 million (+8%), or 20% of operating revenue.

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