Genentech Sees Higher Growth

Genentech Inc. said Friday that it expected 2005 earnings-per-share growth of greater than 25%, excluding items, and was targeting annual growth of 20% from 2006 through 2010.

The world’s second-largest biotechnology company told investors at a meeting in New York that it expected to exceed its previously stated goal of 25% average annual earnings-per-share growth for 1999 through 2005, excluding items.

Shares of Genentech fell 63 cents to $45.94 on the New York Stock Exchange.