HEALTH CARE
From Times Staff and Wire Reports
Genentech Earnings Up Sharply: The South San Francisco-based biotechnology leader said increased sales and higher royalty revenue helped third-quarter earnings jump 100% from a year ago. For the period ended Sept. 30, net income totaled $15.5 million, or 13 cents per share, up from $7.7 million, or 7 cents per share in the same quarter last year. Revenue increased to $165.4 million from $137.3 million. G. Kirk Raab, the company’s president and chief executive, credited the medical community’s acceptance of the value of Activase t-PA, a drug used to treat heart attack patients.
