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Stock Symbol: DNA
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Genentech, Inc. is a biotechnology company that discovers, develops, manufactures and commercializes biotherapeutics for significant unmet medical needs. It manufactures and commercializes 13 biotechnology products in the United States. These products are Rituxan anti-CD20 antibody, Herceptin anti-HER2 antibody, Nutropin Depot encapsulated sustained-release growth hormone, Nutropin growth hormone, Protropin growth hormone, Nutropin AQ and Nutropin AQ Pen liquid formulation growth hormone, TNKase single-bolus thrombolytic agent, Activase tissue-plasminogen activator, Cathflo Activase thrombolytic agent, Pulmozyme inhalation solution, Xolair anti-IgE antibody, Raptiva anti-CD11a antibody and Avastin anti-VEGF antibody. It also licenses several additional products to other companies. The Company's product development efforts cover a range of medical conditions, including cancer, respiratory disorders, cardiovascular diseases, endocrine disorders and inflammatory and immune problems.
For the nine months ended 9/30/04, revenues rose 40% to $3.31 billion. Net income before accounting change rose 20% to $578.2 million. Revenues reflect increased sales of Herceptin and sales of new products, specifically Avastin and Xolair. Net income was partially offset by an increase in marketing expenses.