Navigation Links
PPD Updates 2007 Forecast; Issues Financial Guidance for 2008
Date:1/8/2008

- 65

Total company $1,290 - $1,340 $1,295 - $1,310 $1,535 - $1,590

EPS

Development $1.48 - $1.52 $1.45 - $1.47 $1.64 - $1.72

Discovery sciences (0.11) - (0.13) (0.09) 0.18 - 0.20

Total company $1.35 - $1.39 $1.36 - $1.38 $1.82 - $1.92

(1) Net revenue in millions, excludes reimbursed out-of-pocket expenses.

The 2008 guidance for the discovery sciences segment includes two projected milestone payments from the DPP-4 collaboration with Takeda Pharmaceutical Company Limited. First, PPD anticipates that the FDA will accept the recently filed new drug application, or NDA, for Takeda's lead DPP- 4 candidate, alogliptin, in the first quarter of 2008. If this occurs, PPD will earn a $15.0 million milestone payment from Takeda. Second, PPD is forecasting the approval of the NDA for alogliptin in the fourth quarter of 2008, which would trigger a $25.0 million milestone payment from Takeda. Alogliptin, also referred to as SYR-322, is a highly selective dipeptidyl peptidase-IV inhibitor that is being developed by Takeda for the treatment of type 2 diabetes.

The effective tax rate for 2008 is projected to be in the range of 33 to 34 percent, compared to an expected rate of 34 percent for 2007.

Projected capital expenditures for 2008 are expected to be in the range of $80 to $90 million. These expenditures will be associated with facility expansions and improvements, as well as investments in information technology and new laboratory equipment.

"For 2008, we expect to see steady growth in the core development business, and plan to continue to focus our efforts on disciplined execution throughout the year," said Fred Eshelman, chief executive officer of PPD. "We are particularly excited about the potential maturation of the DPP-4 program with Takeda. In addition, we look forward to the continued advancement of our other compound partnering arrangement
'/>"/>

SOURCE PPD, Inc.
Copyright©2008 PR Newswire.
All rights reserved

0

GOOD

Page: 1 2 3 4 5

Related medicine news :

1. Cardiome Updates Guidance
2. Silverchair Learning Systems Updates and Develops New Courses
3. eDiets.com(R) Updates Timing of Third Quarter 2007 Earnings Conference Call
4. Vista Partners Updates Coverage on Raptor Pharmaceuticals Corp.
5. Dynavax Announces Third Quarter 2007 Financial Results and Updates 2007 Financial Outlook
6. WallSt.net (www.wallst.net) Updates the Investment Community Through All-New Interviews With XMDC, POSS and TYPE
7. WallSt.net Updates Investment Community Through All-New Interview With XTend Medical
8. WallSt.net Updates Investment Community Through All-New Interview With Ingen Technologies
9. Lilly Announces Updates to the Zyprexa and Symbyax U.S. Labels
10. West Pharmaceutical Services Updates Annual Guidance
11. ADA Updates Environmental Recommendations for Handling Waste
Post Your Comments:
*Name:
*Comment:
*Email:
Breaking Medicine Technology:Heska Announces Extension of Credit Agreement With Wells Fargo 2Heska Announces Extension of Credit Agreement With Wells Fargo 3Anesiva Completes Sale of its Zingo(TM) Assets to Powder Pharmaceuticals and Lee's Pharmaceuticals 2St. Luke's Hospital Acquires Pioneering Technology From BrainLAB 2St. Luke's Hospital Acquires Pioneering Technology From BrainLAB 3Sanofi aventis and Merrimack Pharmaceuticals Enter Into a Worldwide Collaboration and Licensing Agreement on MM 121 an Anti ErbB3 Monoclonal Antibody 5122 1Sanofi aventis and Merrimack Pharmaceuticals Enter Into a Worldwide Collaboration and Licensing Agreement on MM 121 an Anti ErbB3 Monoclonal Antibody 5122 2Sanofi aventis and Merrimack Pharmaceuticals Enter Into a Worldwide Collaboration and Licensing Agreement on MM 121 an Anti ErbB3 Monoclonal Antibody 5122 3Sanofi aventis and Merrimack Pharmaceuticals Enter Into a Worldwide Collaboration and Licensing Agreement on MM 121 an Anti ErbB3 Monoclonal Antibody 5122 4Sanofi aventis and Merrimack Pharmaceuticals Enter Into a Worldwide Collaboration and Licensing Agreement on MM 121 an Anti ErbB3 Monoclonal Antibody 5122 5Sanofi aventis and Merrimack Pharmaceuticals Enter Into a Worldwide Collaboration and Licensing Agreement on MM 121 an Anti ErbB3 Monoclonal Antibody 5122 6Sanofi aventis and Merrimack Pharmaceuticals Enter Into a Worldwide Collaboration and Licensing Agreement on MM 121 an Anti ErbB3 Monoclonal Antibody 5122 7Sanofi aventis and Merrimack Pharmaceuticals Enter Into a Worldwide Collaboration and Licensing Agreement on MM 121 an Anti ErbB3 Monoclonal Antibody 5122 8Sanofi aventis and Merrimack Pharmaceuticals Enter Into a Worldwide Collaboration and Licensing Agreement on MM 121 an Anti ErbB3 Monoclonal Antibody 5122 9Golden Meditech Announces HK 24217 Million Private Equity Financing for Hospital Subsidiary 14309 1Golden Meditech Announces HK 24217 Million Private Equity Financing for Hospital Subsidiary 14309 2Method to Identify Female Athletes at a High Risk for Knee Injury Discovered 58628 1Method to Identify Female Athletes at a High Risk for Knee Injury Discovered 58628 2