Genentech Inc. on Wednesday released quarterly financialresults showing declining market share in North America forits Activase tissue plasminogen activator (t-PA).
Total net sales of Activase were $50.4 million in the secondquarter ended June 30, compared with $48.3 million for thesame quarter of 1990. But North American sales were $44.5million for the quarter, compared with $48.3 million for thequarter last year and $55.5 million for the first quarter of1991.
Genentech reported a net profit of $11.4 million, or 10 cents ashare, on revenues of $129.5 million. The company had a netprofit of $5.3 million, or 6 cents, on revenues of $112.5million for the same quarter last year. Last year's figuresinclude a charge of $7.2 million, or 8 cents a share, related tothe costs of the merger with Roche Holding Ltd.
Until this year, Activase had dominated the market for clotbusters, with a 64 percent market share. The company nowestimates its share at 53 percent. Genentech expects its shareto hover at about 50 percent for the rest of the year, giving itanticipated 1991 net North American Activase sales of $180million, $30 million below comparable 1990 sales.
The 46,000-patient ISIS-3 study of heart attack therapies,published in March, concluded that streptokinase is aseffective and safer than two competing clot-busters, Eminaseand duteplase, an unapproved form of t-PA.
Stock of the South San Francisco, Calif.-based company(NYSE:GNE) closed down 38 cents on Wednesday at $27.50. --Karen Bernstein
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