Business Desk
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
EARNINGS
GENENTECH 2Q NET SOARS 79%; REVENUE UP 44% A new drug to treat age-related macular degeneration was only on the market for one day in Genentech Inc.’s second quarter, but it pulled in $10 million in revenue, revenue that executives said will continue to grow although they declined to project by how much.
The $10 million sales number for Lucentis, which won Food and Drug Administration approval on June 30, came in anticipation of the drug’s approval, said Ian Clark, Genentech’s executive vice president for commercial operations, in an interview.
– Dow Jones Newswires
DELPHI 4Q LOSS NARROWS TO $828M Automotive parts supplier Delphi Corp. pared its net loss in the fourth quarter and full year in 2005 as the supplier dealt with a turn into bankruptcy proceedings and an ongoing federal investigation into its accounting. The Troy, Mich., company said yesterday in its delayed annual report with the Securities and Exchange Commission that it posted a fourth-quarter loss of $828 million, down from a year-earlier loss of $4.9 billion. Revenue fell to $6.8 billion from $7 billion in the year-on-year comparison.
– Dow Jones Newswires
