Health and Healthcare

Genentech Masks a Whiff (DNA)

Genentech Inc. (NYSE: DNA) is initially looking like a severe disappointment to those who thought Cramer’s call last week was the right one.  The largest biotech in the U.S. posted $0.82 EPS on $3.23 Billion in revenues.  The company has also tightened its full-year 2008 non-GAAP earnings forecast to a range of $3.40 to $3.50 per share, revised from $3.35 to $3.45 per share.

First Call had estimates at $0.86 EPS on $3.23 Billion in revenues.  For fiscal 2008, estimates are $3.43 EPS on $13.03 Billion in revenues.

The company did have disappointing drug sales as well:
Drug            2008    2007   Change
Rituxan®     $651     $582      12%
Avastin®+    $650     $564      15%
Herceptin®   $338     $329      3%
Lucentis®     $216     $209      3%
Xolair®          $129     $120      8%
Tarceva®       $119     $102      17%

So far traders do not like this report, but the better news perhaps is that this slightly raised guidance is being treated well.  Shares closed down 3% at $75.39.  The initial reaction put shares down some 4% but they have recovered back to $75.40.

Jon C. Ogg
July 14, 2008

100 Million Americans Are Missing This Crucial Retirement Tool

The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.

Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.

A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.

Click here to learn how to get a quote in just a few minutes.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.