Genentech's 3rd-qtr GAAP net leaps 58%

US biotechnology major Genentech, which is majority owned by Swiss group Roche, has reported a leap of 58% to $568.0 million in third-quarter 2006 net income on a generally-accepted accounting principles basis, with sales rocketing 34% to $1.94 billion, helped by good acceptance of the firm's new wet age-related macular degeneration drug Lucentis (ranibizumab).

Genentech's lead product, Rituxan (rituximab), saw US sales grow 12% to $509.0 million in the reporting period, while Avastin (bevacizumab) advanced 34% to $435.0 million. Turnover of Herceptin (trastuzumab) increased 40% to $302.0 million, Tarceva (erlotinib) was up 37% at $100.0 million and revenues from Lucentis, which was only launched in the USA in June, reached $153.0 million. Royalties were up 53% to $364.0 million.