Genentech (DNA) reported strong earnings this week with a pro forma profit of 19 cents per share on sales of $1.128B. Analysts had expected 19 cents on sales of $1.06B according to Thomson First Call. Genentech sales are up from $799.7M last year and passed the $1B mark per quarter for the first time ever. The increase is to a large part due to strong sales of the colon cancer drug Avastin. Avastin was far ahead of estimates of $85MM for Q1 and brought in $133MM instead. It now seems clear that Avastin is on its way to become the most successful commercial launch in biotech ever.
