Genentech beats Street EPS

DNA reported third quarter non-GAAP EPS of $0.35, beating the Street's $0.30 estimate by $0.05 and up 46% from EPS of $0.24 in the same quarter last year. Sales increased 44% to $1.5 billion from $1 billion in the third quarter of 2004. For the year, DNA now expects non-GAAP EPS growth of 50% versus 2004. Previously, the company expected EPS growth of more than 35%.

Third quarter U.S. sales of non-Hodgkin's lymphoma (NHL) antibody Rituxan rituximab came in at $456.2 million, up 16% from $393 million in the third quarter of 2004. Rituxan is co-marketed by Biogen Idec (BIIB) in the U.S. ...