DNA Zahlen: G pro Aktie + 21%-Umsatz + 38% - 500 Beiträge pro Seite

[TalkingHead]

Thursday April 12, 4:31 pm Eastern Time
Press Release
Genentech Reports 38 Percent Increase in Product Sales for First Quarter
20 Percent Increase in Net Income and
21 Percent Increase in Earnings Per Share,
Exclusive of Impact of Redemption and Change in Accounting

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--April 12, 2001-- Genentech, Inc. (NYSENA - news) today announced a 20 percent increase in net income and a 21 percent increase in earnings per share(1) driven by a 38 percent increase in product sales for the first quarter of 2001, exclusive of the ongoing impact of the 1999 redemption of Genentech`s Special Common Stock and related accounting treatment(2), and the cumulative effect of accounting changes(3)(4).

For the three months ended March 31, 2001:

Net income for the first quarter of 2001 increased 20 percent to $91.2 million, or 17 cents per share, compared to $76.0 million for the first quarter of 2000, or 14 cents per share, representing an increase in earnings per share of 21 percent, exclusive of the ongoing impact of the 1999 redemption of Genentech`s Special Common Stock and related accounting treatment, and the cumulative effect of accounting changes in 2001 and 2000.
Due to charges related to the redemption, the company recorded a first quarter net income of $26.8 million, or a net income per share of 5 cents, as compared to a net loss of $82.4 million, or 16 cents per share, in the first quarter of 2000(4).
Revenues increased 37 percent to $540.1 million from $387.9 million in the same quarter of 2000. This revenue growth was driven primarily by sales of Genentech`s BioOncology products, Rituxan® (Rituximab) and Herceptin (R) (Trastuzumab) and also includes $10.0 million related to changes in fair values of derivative instruments associated with the adoption of FAS 133(3).
``As we celebrate Genentech and biotech`s first 25 years with our products having touched the lives of over one million people, we continue to move projects through our pipeline to treat cancer, heart disease and other significant unmet medical needs while providing strong financial returns for our stockholders,`` said Arthur D. Levinson, Ph.D., Genentech`s chairman and chief executive officer.

During the first quarter of 2001, Genentech continued to advance its BioOncology focus with the strong performance of its two marketed cancer products, Rituxan and Herceptin. On March 14, 2001, findings of a pivotal Phase III study evaluating Herceptin plus chemotherapy were published in the New England Journal of Medicine. The results demonstrated a significant 24 percent increase in median overall survival in women with HER2 positive metastatic breast cancer who were treated initially with Herceptin and chemotherapy, compared to women treated with chemotherapy alone. A supplemental Biologics License Application (sBLA) has been submitted to the U.S. Food and Drug Administration (FDA) to add this median survival data to the Herceptin package insert.

In December 2000, encouraging data from a Phase III clinical trial of Rituxan in combination with chemotherapy were presented at the 42nd annual meeting of the American Society of Hematology. These and other ongoing studies show Rituxan may play an important role in improving the response rates for patients with common forms of lymphoma.

Genentech also made progress with its cardiovascular pipeline products during the quarter. In March, with partner Actelion, Ltd., Genentech announced preliminary positive results from a Phase III trial (RITZ 2) of the first intravenous, dual endothelin receptor antagonist Veletri(TM) (tezosentan) in acute heart failure. Presented at the 50th Annual Scientific Session of the American College of Cardiology, the results of the RITZ 2 trial demonstrated significant improvement in the primary endpoint, cardiac index (the amount of blood pumped by the heart per minute/body surface area), and in secondary endpoints including pulmonary capillary wedge pressure at 6 hours and patient assessed dypsnea at 24 hours.

Product Sales

Sales of marketed products increased 38 percent in the first quarter of 2001 to $391.9 million from $283.2 million in the first quarter of 2000.

Sales of Rituxan in the first quarter of 2001 increased 102 percent to $172.1 million from $85.1 million in the first quarter of 2000. This sales increase is due primarily to increased market penetration for the treatment of non-Hodgkin`s lymphoma.

Sales of Herceptin in the first quarter of 2001 increased 18 percent to $81.4 million compared to $68.7 million in the first quarter of 2000. Since launch, an increase in the penetration into the metastatic breast cancer market has contributed to a positive sales trend and consistent quarter-over-quarter growth in the United States.

Combined sales of Genentech`s two cardiovascular products, Activase® (Alteplase, recombinant) and TNKase(TM) (Tenecteplase), during the first quarter of 2001 increased 10 percent to $52.1 million compared to $47.5 million for Activase sales alone in the first quarter of 2000. The increase in sales reflects the steady sales growth of TNKase based on its ability to be administered in a single, 5-second injection.

Sales of Genentech`s four growth hormone products were $55.5 million compared to $55.1 million in the first quarter of 2000.

Sales of Pulmozyme® (dornase alfa) Inhalation Solution increased 12 percent to $29.9 million in the first quarter of 2001 compared to $26.8 million in the first quarter of 2000.

Total Costs and Expenses

Costs and expenses increased in the first quarter of 2001 as compared to the first quarter of 2000.

Research and development (R&D) expenses increased in the first quarter of 2001 to $136.3 million compared to $111.4 million in 2000. R&D expenses as a percent of revenues in the first quarter of 2001 were 26 percent, compared to approximately 29 percent in the first quarter of 2000. R&D expenses as a percent of revenues are expected to vary over the next several periods dependent on possible in-licensing agreements and as products progress through late-stage clinical trials.

Primarily due to the increase in product sales, cost of sales increased to $83.8 million in the first quarter of 2001 from $62.9 million, exclusive of expenses related to the redemption and push-down accounting in the first quarter of 2000.

Marketing, general and administrative (MG&A) expenses increased during the first quarter of 2001 to $127.9 million compared to $83.6 million in the first quarter of 2000. This increase was due to the write-down of certain biotech investments due to current market conditions, preparation for the Xolair(TM) (Omalizumab) market introduction, an increase in the marketing and selling expenses in continuing support of Genentech`s oncology products and royalty expenses associated with licensee sales. Fluctuations in investment write-down expenses are expected over the next several periods dependent on market conditions.

Collaboration profit sharing expenses increased to $46.4 million in the first quarter of 2001 from $18.3 million in the first quarter of 2000. The increase was due primarily to increased Rituxan profit-sharing expense due to higher Rituxan sales.

[TalkingHead]

UPDATE DNA

erste analysten-kommentare zu den quartalszahlen:

Apr 12, 2001 (BUSINESS WIRE) --
Matthew Geller, Sr. Biotechnology Analyst at CIBC World Markets, says Genentech`s Q1 revenues were `spectacular.`

Apr 12, 2001 (BUSINESS WIRE) --
Cory Kasimov, Biotechnology Analyst at Gruntal & Co., says he was pleasantly surprised by Genentech`s Q1 results, released after Thursday`s close.

Thursday April 12, 7:47 pm Eastern Time
(UPDATE: adds company comments, analyst quotes, updates stock price) - by Deena Beasley
``They had a pretty fantastic quarter. Product sales and the top line were stronger than expected,`` said Eric Schmidt, an analyst at SG Cowen Securities.

nachbörslich:
DNA Apr 12 49 215/256 +4 151/256 +10.14% 49 -- 50 51/256

die 50$-marke sollte jetzt schnell übersprungen werden:



zwar soll der gewinn 2001 lediglich um 20-25% ansteigen -was aber vorrangig auf überproportional steigende forschungs- und marketingkosten zurückzuführen ist - die produktpipeline jedenfalls ist gut gefüllt:

http://www.gene.com/gene/science/pipeline/

aufgepaßt ihr kleinen biotech-buden - DNA verfügt über cashpositionen in höhe von 2.3 Mrd$!
"The CFO said Genentech would like to utilize the $2.3 billion for acquisitions or to license products from other companies."

reichlich wachstumsphantasie ist bei DNA also vorhanden - vielleicht haben wir die tiefstkurse schon gesehen.

gruß
-th-