Genentech Inc. late Thursday reported solid but not spectacular fourth quarter and year-end financial results that included double-digit increases in more key categories.

It said annual U.S. product sales were $9.503 billion, an 11 percent increase over 2007. In fourth-quarter 2008, U.S. product sales were $2.495 billion, a 13 percent increase over the same period in 2007.

Sales of flagship product Avastin were $2.68 billion in 2008, a 17 percent boost over 2007. For the last three months of 2008, Avastin sales were $731 million, a 21 percent increase over the fourth quarter of 2007. However, that still fell below the consensus figure of $745 million.

Sales of Rituxan and Herceptin also beat previous year sales figures in 2008, with Rituxan bringing in $2.58 million last year - a 13 percent increase - and Herceptin garnering $1.38 million, a 7 percent boost.

Raptiva had full-year sales of $108 million in 2008, just 1 percent higher than sales in 2007. For the fourth quarter last year, the sales of the drug dropped 11 percent, to $25 million.

The South San Francisco-based company reported non-GAAP operating revenue of $13.4 billion, a 14 percent increase from $11.71 billion in 2007. GAAP operating revenue was $13.41 billion, a 14 percent increase over 2007.

For the fourth quarter 2008, non-GAAP operating revenue of $3.7 billion was a 25 percent increase from the same period in 2007. GAAP operating revenue for the quarter was $3.7 billion, a 25 percent increase.

The company also noted that it has received FDA action date for its two supplemental biologic license (sBLA) applications for Avastin (bevacizumab) in relapsed glioblastoma (May 5) and Avastin in combination with interferon alfa-2a therapy for patients with first-line metastatic renal cell carcinoma (Aug. 1).

Arthur D. Levinson, Genentech's chairman and CEO, called the figures "another year of solid financial growth."

He also pointed to four sBLA filings submitted during the year for serious diseases in oncology and immunology, and Phase I trials initiated for eight new molecular entities, including in neuroscience.

Looking ahead, he said that in 2009 "we have the potential to receive four FDA approvals, and we anticipate filing more than 10 regulatory applications for new indications."

The company also announced it is now forecasting full-year 2009 non-GAAP earnings to be in the $3.55 to $3.90 per share range, recognizing that there are a large number of business uncertainties that make it a difficult year to forecast.

Shares in South San Francisco, Calif.,-based Genentech (NYSE:DNA) fell 49 cents, closing at $85.08 Thursday.