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DNA beats EPS estimates

October 10, 2001 7:00 AM UTC

Genentech (DNA) reported after market close third quarter EPS of $0.20, beating the consensus EPS estimate by $0.01. Earnings were driven by a 34% increase in product sales to $448.7 million from $334.2 million in the third quarter last year. Sales were helped by increased market penetration for Rituxan rituximab for non-Hodgkin's lymphoma, which came in at $212.8 million, an 80% increase from the $117.9 million in the third quarter last year. Sales of Herceptin trastuzumab for metastatic breast cancer increased 16% to $83.9 million from $72.6 million.

Based on DNA's numbers, Idec (IDPH), which co-markets Rituxan with DNA in the U.S., said it will post third quarter EPS of $0.16, a penny better than the Street expected. IDPH will announce earnings after the market close on Oct. 18. ...