Genentech, Inc. (Jobs) Stock Buffeted, but Drug Outlook Remains Strong

Feb. 23--In the pharmaceutical business, even success can create problems. That’s been the case for Genentech Inc. with Avastin, its blockbuster cancer drug, which the biotech giant plans to begin making this year in Oceanside. Shares of Genentech fell 2.5 percent Thursday because of concerns over Avastin sales. On Wednesday, the company announced an important patent had been revoked. But also on Wednesday, Genentech announced positive results in a clinical trial to treat a form of brain cancer. >>> Discuss This Story

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