Two Ways To Play: Genentech's Got Good Genes
Out with earnings this afternoon is biotech company Genentech (DNA). The company which is being pursued by its majority holder Roche Holding AG (RHHBY) said fourth-quarter profits rose 47% due in part to higher sales of its cancer drugs. According to Bloomberg Genentech’s net income rose to $931 million or $0.87 a share from $632 million or $0.59 a share a year earlier. Excluding some costs the company showed a profit of 95 cents a share which was $0.02 below consensus estimates of 97 a share. Revenues rose 25% to $3.7 billion and sales of its cancer drug Avastin ...
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