INCLINE VILLAGE, Nev., Sept. 8 /PRNewswire-FirstCall/ -- PDL BioPharma, Inc. (PDL) (Nasdaq: PDLI) today announced revenue guidance for the third quarter ended September 30, 2009 of approximately $71 million, as compared with $69 million for the third quarter of 2008. Royalty revenues are based on second quarter product sales by PDL's licensees and include $1.6 million for Synagis(R), which is marketed by MedImmune. 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 third quarter 2009 on October 27, 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 October.
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.
This press release contains forward-looking
|SOURCE PDL BioPharma, Inc.|
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