Another One For Genentech

The good news continues for Genentech. This time, their breast cancer drug, Herceptin, was found to be effective against the recurrence of HER2 - positive breast cancer. This has the potential to be a $1 billion drug. Now I really wish I bought some more shares in the 50s, which I was planning on doing - but never pulled the trigger.

Today, Genzyme also announced some good news on their Myozyme drug, an enzyme replacement therapy for the treatment of Pompe disease. Everything is on target for a mid year filing with the FDA and hopefully marketing approval in 2006. Also last week, Genzyme announced good earnings and raised guidance. Amgen also reported good earnings and raised guidance as well. The biotech sector is setting up for a nice rally.

Almost done with the earnings reports. Up next for me is Invitrogen, Qiagen, Fisher Scientific and Las Vegas Sands.