Navigation Links
PDL BioPharma Provides Second Quarter 2009 Revenue Guidance of Approximately $125 Million
Date:6/8/2009

INCLINE VILLAGE, Nev., June 8 /PRNewswire-FirstCall/ -- PDL BioPharma, Inc. (PDL) (Nasdaq: PDLI) today announced revenue guidance for the second quarter ended June 30, 2009 of approximately $125 million, as compared with $106 million for the second quarter of 2008. The increase is due primarily to royalty revenues driven by higher product sales of Avastin(R), and Lucentis(R), which are marketed by Genentech, and sales of Tysabri(R), which is marketed by Elan. Royalty revenues are based on first quarter product sales by PDL's licensees and include $18.7 million for Synagis(R), which is marketed by MedImmune. Also included in the second quarter revenue estimate is the second and final installment of $12.5 million from Alexion based on the companies' December 2008 settlement and license agreement. When compared with 2008, royalty revenue for foreign sourced sales was negatively impacted by changes in foreign exchange rates; approximately 50 percent of underlying product sales is in currencies other than U.S. dollars.

The above guidance is preliminary and actual published results may differ from such guidance. PDL plans to release its financial results for the second quarter 2009 on August 6, and will hold a conference call to discuss financial results and provide an update on company activities. Additional information regarding the call will be announced in late July.

About PDL BioPharma, Inc.

PDL BioPharma pioneered the humanization of monoclonal antibodies and, by doing so, enabled the discovery of a new generation of targeted treatments for cancer and immunologic diseases. PDL is focused on maximizing the value of its antibody humanization patents and related assets. The company receives royalties on sales of a number of humanized antibody products marketed today and also may receive royalty payments on additional humanized antibody products launched before patent expiry in late 2014. For more information, please visit www.pdl.com.

NOTE: PDL BioPharma and the PDL BioPharma logo are considered trademarks of PDL BioPharma, Inc.

Forward-looking Statements

This press release contains forward-looking statements, including regarding PDL's expectations with respect to its 2009 royalty revenues.

Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from those, express or implied, in these forward-looking statements. Factors that may cause differences between current expectations and actual results include, but are not limited to, the following:

  • The expected rate of growth in royalty-bearing product sales by PDL's existing licensees;
  • The relative mix of royalty-bearing products manufactured and sold outside the U.S. versus manufactured or sold in the U.S.;
  • The ability to receive regulatory approvals to market and launch new royalty-bearing products and whether such products, if launched, will be commercially successful;
  • Changes in any of the other assumptions including foreign currency exchange rates on which PDL's projected royalty revenues are based;
  • The outcome of pending litigation or disputes; and
  • The failure of licensees to comply with existing license agreements, including any failure to pay royalties due.

Other factors that may cause PDL's actual results to differ materially from those expressed or implied in the forward-looking statements in this press release are discussed in PDL's filings with the SEC, including the "Risk Factors" sections of its annual and quarterly reports filed with the SEC. Copies of PDL's filings with the SEC may be obtained at the "Investors" section of PDL's website at www.pdl.com. PDL expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in PDL's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based for any reason, except as required by law, even as new information becomes available or other events occur in the future. All forward-looking statements in this press release are qualified in their entirety by this cautionary statement.


'/>"/>
SOURCE PDL BioPharma, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. China Biopharmaceuticals Holdings Announces Second Quarter 2007 Financial Results
2. XTL Biopharmaceuticals Announces Financial Results for the Six Months Ended June 30, 2007
3. PDL BioPharma Announces Internal CEO Investigation Found No Credible Evidence of Improper Personal Conduct or Breach of Fiduciary Duty
4. Nabi Biopharmaceuticals to Present at Upcoming Industry Conferences
5. PDL BioPharma Announces Significant Strategic and Portfolio Changes to Focus on Antibody Discovery and Development
6. XTL Biopharmaceuticals Announces Presentation of Novel Pre-Clinical Inhibitors of Hepatitis C at an Upcoming International Scientific Conference
7. XTL Biopharmaceuticals Initiates Phase IIb Clinical Trial of Bicifadine for the Treatment of Diabetic Neuropathic Pain
8. Nabi Biopharmaceuticals Announces Sale of Nabi Biologics to Biotest AG
9. Keryx Biopharmaceuticals to Present at Bank of America Investment Conference
10. Morria Biopharmaceuticals Plc Announces Appointment of Dr. Rosemary Mazanet as Interim Chief Executive Officer
11. Keryx Biopharmaceuticals, Inc. Announces Appointment of Michael P. Tarnok to Board of Directors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2016)... THOUSAND OAKS, Calif. , Dec. 2, 2016 ... AGN ) today announced the submission of a ... for ABP 215, a biosimilar candidate to Avastin ® ... biosimilar application submitted to the EMA. "The ... milestone as Amgen seeks to expand our oncology portfolio," said ...
(Date:12/2/2016)... -- Research and Markets has announced the addition ... Companies" to their offering. ... , , ... industries is anticipated. Nanotechnology will be applied at all stages ... diagnostic applications in clinical trials. Many of the assays based ...
(Date:12/2/2016)... , ... December 01, 2016 ... ... will share findings demonstrating the value of DNA microarray comparative genomic hybridization ... year’s San Antonio Breast Cancer Symposium. Using molecular test results from tumors ...
(Date:12/2/2016)... ... 01, 2016 , ... PhUSE will build on the huge ... Single Day Events (SDE) to organize a multiple-day US conference. The first annual ... of the pharmaceutical and life sciences industry will cover industry standards, data science, ...
Breaking Biology Technology:
(Date:11/29/2016)... VILNIUS, Lithuania , Nov. 29, 2016 ... high-precision biometric identification and object recognition technologies, ... kit (SDK) for fingerprint recognition solutions that ... extract a fingerprint template using less than ... used in compact devices that have limited ...
(Date:11/24/2016)... , Nov. 23, 2016 Cercacor today ... athletes and their trainers non-invasively measure hemoglobin, ... Pulse Rate, and Respiration Rate in approximately 30 seconds. ... users easy and immediate access to key data about ... of a training regimen. Hemoglobin carries ...
(Date:11/21/2016)... , Nov. 21, 2016   Neurotechnology ... object recognition technologies, today announced that the MegaMatcher ... cards was submitted for the NIST Minutiae ... passed all the mandatory steps of the evaluation ... is a continuing test of fingerprint templates used ...
Breaking Biology News(10 mins):