Genentech Says Drug Shown to Improve Vision

Genentech Inc. of South San Francisco said patients with age-related macular degeneration who received its experimental drug could read almost 1 1/2 more lines on an eye chart after a year compared with vision loss for those on a placebo.

The trial involved 716 patients with the “wet” form of the eye disease, the leading cause of blindness in older adults. Industry analysts have said the drug, Lucentis, could become a blockbuster with sales of more than $1 billion a year if it is approved by regulators.

Shares of Genentech, which is majority-owned by Roche Holding, fell $1.52 to $88.06.