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PDL BioPharma Announces Fourth Quarter and Full Year 2009 Financial Results and Provides First Quarter 2010 Revenue Guidance
Date:3/2/2010

First Quarter 2010 Revenue Guidance

PDL will continue to provide revenue guidance on a quarterly basis at the beginning of the third month of each quarter for that quarter, as it did in 2009.  

Revenue guidance for the first quarter of 2010 is of $62 million as compared with actual results $62.6 million for the same period in 2009.  Included in first quarter results in 2009 was $17.1 million from MedImmune for sales of Synagis. The Company's first quarter 2010 guidance does not include royalties for Synagis due to ongoing legal disputes with MedImmune.  Excluding MedImmune, anticipated first quarter 2010 revenue grew by more than 35 percent over the first quarter of 2009.  The growth is primarily driven by increased fourth quarter 2009 sales of Avastin, Herceptin, Lucentis, Tysabri and Actemra for which PDL received royalties in the first quarter of 2010.  

Reported sales of Avastin and Herceptin increased 18 percent and 11 percent, respectively, when compared to the same period for the prior year. Also contributing to increased Avastin and Herceptin royalties are product sales that are ex-U.S. manufactured and sold and for which PDL re
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SOURCE PDL BioPharma, Inc.
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