Anti-Cancer Drug Maker Genentech Rises as it Beats Estimates

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Genentech (DNA) was up 9.6% in preopen Instinet trading. Late Wednesday, the No. 2 biotechnology company posted third-quarter earnings of 20 cents a share, beating the consensus estimate by 1 cent and up from 16 cents in the year-ago quarter.

The company said revenue for the third quarter was $556.1 million, driven by strong sales of its antibody-based cancer drugs, including Rituxan for non-Hodgkin's lymphoma and Herceptin for breast cancer.