Genentech Earnings Tops Again, But Tarceva Concern Has Impact

Genentech Inc. reported first-quarter earnings higher than Wall Street expectations - a 59 percent hike in non-GAAP (formerly pro forma) earnings per share - but the company told investors of potential safety issues in one Phase III study with the anticancer drug Tarceva, news that put the biggest dent in shares of Tarceva partner OSI Pharmaceuticals Inc. (BioWorld Today)