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Idec Pharmaceuticals Corp

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BUSINESS
September 20, 2002 | DENISE GELLENE, TIMES STAFF WRITER
British drug maker GlaxoSmithKline said Thursday that it settled litigation against Genentech Inc. that claimed its rival infringed patents covering monoclonal antibodies--cells grown in large fermentation tanks that can be programmed to attack disease. The companies did not disclose details of the confidential settlement, which ends two separate legal actions. As a result of the settlement, Glaxo dropped its appeal of a May 2001 jury verdict in favor of Genentech.
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BUSINESS
March 20, 2001 | Reuters
Corixa Corp. said it would cut its work force and take a charge against earnings after the Food and Drug Administration requested more data on an experimental drug that uses a cloned antibody to deliver radiation directly to cancer tumors. The request for additional safety and other data on Bexxar, considered the most important drug in the company's pipeline, adds at least a year to the timeline for approval, analysts said.
BUSINESS
March 20, 2001 | Reuters
Corixa Corp. said it would cut its work force and take a charge against earnings after the Food and Drug Administration requested more data on an experimental drug that uses a cloned antibody to deliver radiation directly to cancer tumors. The request for additional safety and other data on Bexxar, considered the most important drug in the company's pipeline, adds at least a year to the timeline for approval, analysts said.
BUSINESS
May 7, 1996
Companies with highest ratio of stock market value to sales. *--* 4/19/96 1995 Price/ Mkt. value Revenue sales Rank Company ($ millions) ($ millions) ratio 1 Pixar Animation Studios 785 12 66 2 Netscape Communications 4,305 78 52 3 ThermoLase Corp. 1,205 25 46 4 Xylan Corp. 2,539 30 46 5 Forte Software Inc. 867 23 38 6 Ascend Communications 6,367 150 37 7 Objective Sys. Integrator 1,273 36 37 8 San Francisco Co. 303 11 27 9 Atari Corp. 362 15 25 10 VISX Inc. 470 17 23 11 Protein Design Labs Inc.
BUSINESS
September 20, 2002 | DENISE GELLENE, TIMES STAFF WRITER
British drug maker GlaxoSmithKline said Thursday that it settled litigation against Genentech Inc. that claimed its rival infringed patents covering monoclonal antibodies--cells grown in large fermentation tanks that can be programmed to attack disease. The companies did not disclose details of the confidential settlement, which ends two separate legal actions. As a result of the settlement, Glaxo dropped its appeal of a May 2001 jury verdict in favor of Genentech.
BUSINESS
September 25, 1998
Genentech Inc. will likely report 1998 earnings of $1.30 a share, beating forecasts. South San Francisco-based Genentech, which is majority-owned by Roche Holding, reported 1997 earnings of $1.02 a share. Analysts had forecast profit of $1.28. Genentech Chief Financial Officer Louis Lavigne Jr. said profit will likely exceed forecasts, thanks to strong sales of Rituxan, a drug the company developed with Idec Pharmaceuticals Corp. and started selling in December 1997.
BUSINESS
May 6, 1997
Companies with highest ratios of market value to annual sales. A high "price-to-sales ratio" usually denotes a company that is expected to show explosive growth. *--* 4/18/97 1996 Price/ mkt. value revenue sales Rank Company (millions) (millions) ratio 1 Affymetrix Inc. $570 $12 48% 2 Yahoo Inc. 844 27 31 3 Redwood Trust Inc. 482 16 31 4 Advanced Tissue Sciences 408 17 24 5 Protein Design Labs Inc. 520 23 23 6 Gilead Sciences Inc. 689 33 21 7 Pixar Animation Studios 662 38 17 8 CNET Inc.
BUSINESS
April 13, 2000 | From Bloomberg News
Idec Pharmaceuticals Corp., a San Diego-based developer of the cancer drug Rituxan, said Wednesday that first-quarter profit will fall short of estimates. Shares dropped as much as 22%. Idec said it expects to report first-quarter profit of 7 cents a share. It was expected to earn 12 cents a share, the average estimate of analysts polled by First Call/Thomson Financial. Idec shares plunged as low as $69.25 before finishing the day at $80.44, off $8.
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