Genentech To Use Upside From Avastin For Incremental R&D, SG&A Spend
This article was originally published in The Pink Sheet Daily
The oncologic generated sales of $38.1 mil. during the first five weeks on the market. Genentech has raised its earnings guidance to 20% to 25% for the year.
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The number of accounts ordering the oncologic rose from 1,500 to more than 3,000 in the second quarter, with 80% of accounts placing reorders. Genentech says the majority of Avastin's sales come from the front-line setting.
The cardiologist panel calls for use of the congestive heart failure therapy to be "strictly limited" to patients that present with symptoms in the hospital setting. The expert panel also recommends that Scios "immediately undertake" a professional educational campaign about Natrecor's appropriate uses.