$168 Million in U.S. Rituxan Sales Announced by IDEC Pharmaceuticals for the First Quarter, 2001.Business Editors and Health/Medical Writers BIOWIRE2K SAN DIEGO--(BW HealthWire)--April 12, 2001 Following Genentech's first quarter earnings release, IDEC IDEC Instituto Brasileiro de Defesa do Consumidor (Portugese: Brazilian Consumer Protection Agency) IDEC Information Design & End-User Computing IDEC Interior Design Educators Council, Inc. Pharmaceuticals Corporation (Nasdaq: IDPH IDPH Illinois Department of Public Health IDPH Iowa Department of Public Health ) today announced that the collaboration between IDEC and Genentech, Inc. achieved U.S. net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of Rituxan(R) (Rituximab) totaling $168.0 million for the three months ended March 31, 2001. Based on this level of sales IDEC estimates net income of approximately $0.12 per share on a diluted basis for the first quarter of 2001. IDEC's full financial results for the first quarter are expected to be released on April 19, 2001, after the close of market. Following the release, between 1:30-2:30 p.m. Pacific Standard Time on April 19, 2001, IDEC will conduct a live webcast of IDEC management's discussion of the first quarter financial results and a regulatory update on ZEVALIN(TM). The webcast will be accessible through a link at IDEC's website at http://www.idecpharm.com and will remain available for 48 hours. "U.S. sales performance for Rituxan in the first quarter continues to build on the strong growth we began to see this time last year," said William R. Rohn, IDEC's chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "U.S. net sales for the quarter are up 115 percent compared to the same quarter last year." The net sales of Rituxan reported by Genentech in the first quarter included $4.1 million of ex-US sales to its partner F. Hoffmann-La Roche Ltd. IDEC's royalty revenue on sales of Rituximab outside the U.S. is based on Roche's end-user sales and is booked with a one-quarter lag. IDEC will recognize, during the first quarter of 2001, $2.6 million in royalties from Roche's end-user sales reported during the fourth quarter of last year. Rituxan was discovered by IDEC and is copromoted in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. by IDEC and Genentech. Rituxan is jointly developed by IDEC, Genentech Inc., F. Hoffmann-La Roche Ltd. of Switzerland and Zenyaku Kogyo Co. Ltd. of Japan. Roche has marketing rights to Rituximab outside of the United States and Japan. IDEC Pharmaceuticals focuses on the commercialization and development of targeted therapies for the treatment of cancer and autoimmune diseases Autoimmune diseases A group of diseases, like rheumatoid arthritis and systemic lupus erythematosus, in which immune cells turn on the body, attacking various tissues and organs. Mentioned in: Complement Deficiencies, Premature Menopause . IDEC's antibody products act chiefly through immune system immune system Cells, cell products, organs, and structures of the body involved in the detection and destruction of foreign invaders, such as bacteria, viruses, and cancer cells. Immunity is based on the system's ability to launch a defense against such invaders. mechanisms, exerting their effect by binding to specific, readily targeted immune cells in the patient's blood or lymphatic systems lymphatic system (lĭmfăt`ĭk), network of vessels carrying lymph, or tissue-cleansing fluid, from the tissues into the veins of the circulatory system. . IDEC Pharmaceuticals' press releases are available at no charge through Business Wire's News on Demand Plus. For a menu of IDEC's current press releases and quarterly reports or to retrieve a specific release, call 888/329-2309. On the Internet, check the News Center at IDEC's website: http://www.idecpharm.com. The statements made in this press release contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from IDEC's expectations. For example, the timing, success and cost of preclinical research and clinical studies, the timing, acceptability and review periods for regulatory filings, the timing of and ability to obtain regulatory approval of products, the achievement of future product sales, the level of manufacturing performance and the risk factors listed from time to time in IDEC's SEC filings including but not limited to its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2000 may affect the actual results achieved by IDEC. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements. IDEC Pharmaceuticals and Rituxan are registered U.S. trademarks of the company. ZEVALIN is a trademark of the company. The company's headquarters is located at 3030 Callan Road, San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , CA 92121. |
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