EXHIBIT 99.2
GENENTECH, INC. | |||||||
Three Months | |||||||
2005 | 2004 | ||||||
Revenues: | |||||||
Product sales | $ | 1,274,115 | $ | 913,366 | |||
Royalties | 200,321 | 151,860 | |||||
Contract revenue | 52,443 | 62,852 | |||||
Total operating revenues | 1,526,879 | 1,128,078 | |||||
Costs and expenses: | |||||||
Cost of sales | 269,481 | 186,683 | |||||
Research and development | 278,124 | 212,886 | |||||
Marketing, general and administrative | 356,638 | 276,654 | |||||
Collaboration profit sharing | 198,798 | 145,221 | |||||
Recurring charges related to redemption | 34,482 | 38,209 | |||||
Special items: litigation-related | 19,527 | 13,458 | |||||
Total costs and expenses | 1,157,050 | 873,111 | |||||
Operating margin | 369,829 | 254,967 | |||||
Other income, net(1) | 31,502 | 15,444 | |||||
Income before taxes | 401,331 | 270,411 | |||||
Income tax provision | 105,165 | 99,640 | |||||
Net income | $ | 296,166 | $ | 170,771 | |||
Earnings per share: | |||||||
Basic | $ | 0.28 | $ | 0.16 | |||
Diluted | $ | 0.27 | $ | 0.16 | |||
Weighted average shares used to compute earnings per share: | |||||||
Basic | 1,057,564 | 1,060,619 | |||||
Diluted | 1,083,841 | 1,087,087 | |||||
___________________
(1) | "Other income, net" includes interest income and interest expense. In addition, "other income, net" includes realized gains from the sale of certain biotechnology equity securities and write-downs for other-than-temporary impairments in the fair value of certain biotechnology debt and equity securities. For further detail, refer to our web site at www.gene.com. |
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GENENTECH, INC. | |||||||
Six Months | |||||||
2005 | 2004 | ||||||
Revenues: | |||||||
Product sales | $ | 2,460,117 | $ | 1,677,066 | |||
Royalties | 432,236 | 305,957 | |||||
Contract revenue | 96,104 | 120,190 | |||||
Total operating revenues | 2,988,457 | 2,103,213 | |||||
Costs and expenses: | |||||||
Cost of sales | 520,522 | 301,163 | |||||
Research and development | 521,364 | 403,231 | |||||
Marketing, general and administrative | 671,852 | 523,968 | |||||
Collaboration profit sharing | 375,075 | 271,652 | |||||
Recurring charges related to redemption | 68,964 | 76,418 | |||||
Special items: litigation-related | 30,784 | 26,857 | |||||
Total costs and expenses | 2,188,561 | 1,603,289 | |||||
Operating margin | 799,896 | 499,924 | |||||
Other income, net(1) | 47,899 | 37,765 | |||||
Income before taxes | 847,795 | 537,689 | |||||
Income tax provision | 267,455 | 190,331 | |||||
Net income | $ | 580,340 | $ | 347,358 | |||
Earnings per share: | |||||||
Basic | $ | 0.55 | $ | 0.33 | |||
Diluted | $ | 0.54 | $ | 0.32 | |||
Weighted average shares used to compute earnings per share: | |||||||
Basic | 1,052,228 | 1,057,955 | |||||
Diluted | 1,076,519 | 1,084,618 | |||||
___________________
(1) | "Other income, net" includes interest income and interest expense. In addition, "other income, net" includes realized gains from the sale of certain biotechnology equity securities and write-downs for other-than-temporary impairments in the fair value of certain biotechnology debt and equity securities. For further detail, refer to our web site at www.gene.com. |
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GENENTECH, INC. | ||||||
June 30, | ||||||
2005 | 2004 | |||||
Selected balance sheet data: | ||||||
Cash, cash equivalents and short-term investments | $ | 2,010,541 | $ | 1,619,134 | ||
Accounts receivable - product sales, net | 509,971 | 445,076 | ||||
Accounts receivable - royalties, net | 238,714 | 189,513 | ||||
Accounts receivable - other, net | 165,133 | 136,593 | ||||
Inventories | 600,863 | 527,649 | ||||
Long-term marketable debt and equity securities | 901,052 | 1,414,663 | ||||
Property, plant and equipment, net | 2,792,106 | 1,740,423 | ||||
Goodwill | 1,315,019 | 1,315,019 | ||||
Other intangible assets | 603,956 | 710,644 | ||||
Long-term assets | 998,673 | 817,906 | ||||
Total assets | 10,546,610 | 9,083,774 | ||||
Total current liabilities | 1,141,735 | 862,201 | ||||
Total liabilities | 2,566,605 | 2,198,740 | ||||
Total stockholders' equity | 7,980,005 | 6,885,034 | ||||
Year-to-date: | ||||||
Capital expenditures | $ | 729,810 | $ | 196,633 | ||
Total depreciation and amortization expense | 181,454 | 178,520 |
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GENENTECH, INC. | ||||||
Three Months | ||||||
2005 | 2004 | |||||
Net US Sales: | ||||||
Rituxan | $ | 450,348 | $ | 390,005 | ||
Herceptin | 152,427 | 118,001 | ||||
Avastin | 245,685 | 133,004 | ||||
Growth Hormone | 97,116 | 88,000 | ||||
Thrombolytics | 51,635 | 50,001 | ||||
Pulmozyme | 46,906 | 36,509 | ||||
Xolair | 80,370 | 43,623 | ||||
Raptiva | 21,271 | 13,415 | ||||
Tarceva | 70,186 | - | ||||
Total US Sales | $ | 1,215,944 | $ | 872,558 | ||
Net Sales to Collaborators: | ||||||
Rituxan | $ | 32,013 | $ | 34,661 | ||
Herceptin | (1,767) | (319) | ||||
Avastin | 3,557 | - | ||||
Growth Hormone | 799 | 413 | ||||
Thrombolytics | 1,663 | 1,543 | ||||
Pulmozyme | 7,886 | 4,457 | ||||
Xolair | 1,722 | 53 | ||||
Raptiva | 3,629 | - | ||||
Enbrel | 8,669 | - | ||||
Total Sales to Collaborators | $ | 58,171 | $ | 40,808 | ||
Total Net Product Sales | $ | 1,274,115 | $ | 913,366 | ||
Six Months | ||||||
2005 | 2004 | |||||
Net US Sales: | ||||||
Rituxan | $ | 890,898 | $ | 751,813 | ||
Herceptin | 282,057 | 226,696 | ||||
Avastin | 448,540 | 171,131 | ||||
Growth Hormone | 186,984 | 171,965 | ||||
Thrombolytics | 102,202 | 94,266 | ||||
Pulmozyme | 90,889 | 74,524 | ||||
Xolair | 145,633 | 73,476 | ||||
Raptiva | 37,916 | 19,706 | ||||
Tarceva | 117,771 | - | ||||
Total US Sales | $ | 2,302,890 | $ | 1,583,577 | ||
Net Sales to Collaborators: | ||||||
Rituxan | $ | 65,063 | $ | 73,483 | ||
Herceptin | 9,121 | 4,449 | ||||
Avastin | 15,189 | - | ||||
Growth Hormone | 3,019 | 1,918 | ||||
Thrombolytics | 4,666 | 3,502 | ||||
Pulmozyme | 15,649 | 9,874 | ||||
Xolair | 5,056 | 263 | ||||
Raptiva | 11,099 | - | ||||
Enbrel | 28,365 | - | ||||
Total Sales to Collaborators | $ | 157,227 | $ | 93,489 | ||
Total Net Product Sales | $ | 2,460,117 | $ | 1,677,066 | ||
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