Genentech appears poised to announce 70 percent revenue growth for 2006, a monumental increase for a company that started out 30 years ago as a small biotech operation. The huge growth is due to new sales of Lucentis [1] with expanding markets for Avastin [2], Rituxan [3] and Herceptin [4]. But with its pipeline of new drug prospects growing thin, the focus at Genentech now is beefing up its R&D efforts. Execs say they're hiring new researchers as fast as they can to go to work on a new generation of biologics. Analysts worry that the spectacular growth will have to soon flag as revenue growth begins to settle in at a more measured pace.
- read the article [5] on Genentech's strategy from The Wall Street Journal (sub. req.)
Related Articles:
Genentech strikes $919M deal to buy Tanox. Report [6]
Genentech inks $300M pact with Swiss biotech. Report [7]
Links:
[1] http://www.fiercebiotech.com/story/lucentis-gets-the-green-light-from-regulators/2006-07-03
[2] http://www.fiercebiotech.com/story/fda-approves-avastin-for-lung-cancer/2006-10-12
[3] http://www.fiercebiotech.com/story/new-warning-issued-on-rituxan-for-lupus/2006-12-19
[4] http://www.fiercebiotech.com/story/genentech-wins-approval-for-new-herceptin-indication/2006-11-17
[5] http://online.wsj.com/article/SB116840532996672392.html?mod=health_hs_pharmaceuticals_biotech
[6] http://www.fiercebiotech.com/story/genentech-strikes-919m-deal-to-buy-tanox/2006-11-10
[7] http://www.fiercebiotech.com/story/genentech-inks-300m-pact-with-swiss-biotech/2006-12-07