FDA Approves XOLAIR — Genentech, Inc.

Genentech’s (CHI.HS) FDA approval of its subcutaneous administration of OMALIZUMAB for XOLAIR in June 2003 launched a blockbuster franchise that revolutionized the treatment of allergic asthma and chronic urticaria, although the product faced significant early profitability challenges before eventually becoming a multi-billion-dollar revenue driver.