Biopharmaceuticals

PDL BioPharma Announces Second Quarter 2009 Financial Results

Published in Health Business Week, August 14th, 2009

PDL BioPharma, Inc. (PDL) (NASDAQ:PDLI) reported financial results for the second quarter ended June 30, 2009.

Total revenues from continuing operations for the second quarter of 2009 were $125.9 million, an 18 percent increase from $106.5 million for the same period in 2008. The increase was due primarily to royalty revenues driven by higher product sales of Avastin , and Lucentis , which are marketed by Genentech, Inc., a subsidiary of F. Hoffman-LaRoche Ltd., and sales of Tysabri , which is marketed by Elan Corporation Plc. and Biogen Idec Inc. Royalty revenues are based on first quarter 2009 product sales by PDL's licensees and include $18.9 million for Synagis ,...

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Source: Health Business Week (2009-08-14)

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