Genentech Reports 5% Rise in Q2 Profits

Genentech has reported higher than expected quarterly sales of its cancer drug Avastin, driving profits up 5 percent in the second quarter.  The performance was just short of street expectations however, the 15 percent rise in Avastin sales helped drive the company stock up $5 by the end of the trade day.

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The drug, used in colon and breast cancer treatment,  attacks cancer cells by interrupting blood supply to the cells. Industry watchers have questioned the value of Avastin noting a one year treatment plan can cost upwards of $100,000.  Critics point out that the present health care system rewards illness and the real solution to cost control is keeping patients healthy.

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