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Genentech reports 39% increase in U.S. sales in 2006

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SOUTH SAN FRANCISCO, Calif. — Genentech reported U.S. product sales of $7.17 billion for the full year 2006, an increase of 39% over 2005 sales. The company announced its full-year sales figures in a press release.

For the fourth quarter, U.S. product sales increased 38% over the fourth quarter of 2005 to total $2.05 billion. Non-GAAP earnings were $2.23 per share for 2006, a 74% increase over 2005, and $0.61 per share for the fourth quarter, a 79% increase compared to the fourth quarter of 2005.

Company officials predict 25% to 30% growth in non-GAAP earnings per share for the full year 2007, according to the release.

Sales of Avastin (bevacizumab), a colorectal cancer drug that has been used off-label to treat age-related macular degeneration, increased 54% over 2005 to total $1.75 billion. Year-end sales of Lucentis (ranibizumab), which was launched on June 30, totaled $380 million, and fourth quarter sales totaled $217 million, according to the release.