DNA meets EPS estimates
Genentech (DNA) reported after the market close that it met the Street's second quarter consensus EPS estimate of $0.19, led by a 33% increase in product sales to $410.3 million from $309.4 million in the second quarter last year. Sales were helped by increased market penetration for Rituxan rituximab for non-Hodgkin's lymphoma, which increased 83% to $187.7 million from $102.8 million in the second quarter last year. Sales of Herceptin trastuzumab for metastatic breast cancer increased 18% to $78.8 million from $66.7 million.
Based on DNA's numbers, Idec (IDPH), which co-markets Rituxan with DNA in the U.S., said it will post second quarter EPS of $0.15, meeting the Street's estimate. IDPH will announce earnings after the market close on July 19. DNA closed Wednesday at $42.75, down $1.10 on the day, while IDPH closed up $0.18 to $61.48. ...