Almost without question, Genentech Inc. is the most productive company in the industry. It's launched three major products in the past nine months, omalizumab (Xolair), efalizumab (Raptiva), and most recently bevacizumab (Avastin). Even as other biotech companies trip up, (Biogen Idec Inc. with alefacept (Amevive), MedImmune Inc. with its nasal influenza virus vaccine FluMist), Genentech seems to be executing smoothly. The feat is all the more noteworthy because in the first two cases Genentech is entering new therapeutic areas, asthma and psoriasis, respectively.
The most recent of these to come to market, Avastin, has the highest expectations—and that for a company which has...
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