TECHNOLOGY - April 16, 1994
From Times Staff and Wire Reports
Genentech Inc. Profit More Than Doubles: The South San Francisco-based biotechnology company credited higher sales for the first-quarter results. Genentech earned $38.9 million, or 33 cents a share, for the three months ended March 31. That is 172% higher than the $14.3 million, or 12 cents a share, earned in the same period of last year. Revenue rose 30% to $198.9 million, from $153 million. Sales were boosted both by earlier products and new ones, the company said. During the quarter, Genentech introduced two new drugs: Pulmozyme DNase for treating cystic fibrosis and Nutropin human growth hormone.
