With a 23 percent increase in product sales, Genentech Inc. chalked up earnings in the second quarter of 31 cents per share, a 35 percent jump in EPS, figured on a non-GAAP (generally accepted accounting principles, formerly known as pro forma) basis. (BioWorld Today)

Last month, when the FDA approved Xolair for asthma, there was much rejoicing by Genentech Inc., Tanox Inc. and Novartis Pharma AG, which developed the monoclonal antibody in a three-way deal.

Millennium Pharmaceuticals Inc. came through with its awaited Velcade marketing deal in a big way, entering an agreement for overseas rights that gives the company $15 million up front and as much as $500 million in milestones from Ortho Biotech Products LP. (BioWorld Today)