Genentech Inc. (DNA) has watched its third-quarter profits surge by 58 percent due to strong drug sales including Lucentis, the company's newest drug that treats the eye disease macular degeneration.
The San Francisco-based company reported $568 million in profits for the quarter, compared to $359 million the same time last year. Their profits would have reached $637 million but they had special expenses including employee stock options.
Lucentis was approved by the Food and Drug Administration on June 30 and the acceptance by physicians has been strong.
Know More about the newest drugs at ThePharmVoice.com.
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