Finance

Avastin maker reports increase of 28% in product sales

Published in Cancer Weekly, May 4th, 2004

Genentech, Inc., (DNA) announced total product sales of $763.7 million for the first quarter of 2004, a 28% increase over product sales in the first quarter of 2003.

Sales for Avastin (bevacizumab) were $38.1 million in the first quarter of 2004.

Avastin, the first U.S. Food and Drug Administration (FDA)-approved therapy designed to inhibit angiogenesis, received FDA approval and Genentech shipped product on the same day.

Operating revenues increased by 30% from the first quarter of 2003 to $975.1 million.

"Genentech is starting out the year with good quarterly performance, led by strong product sales. We have...

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Source: Cancer Weekly (2004-05-04)

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