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News Breaks
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December 19, 2011
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| 07:02 EDT |  | PDLI |
| theflyonthewall.com: | PDL BioPharma sees Q4 revenue approximately $72M vs. consensus $82.46M | | This guidance is 5% lower than the reported $76M for Q4 of 2010. The forecasted Q4 revenue decline is primarily driven by reduced royalties from third quarter 2011 sales of Avastin and Herceptin partially offset by increased royalties from third quarter 2011 sales of Lucentis and Tysabri. Sales of Avastin, Herceptin, Lucentis, and Xolair - the Genentech Products - are subject to a tiered royalty rate for product that is made or sold in the United States and a flat royalty rate of three percent for product that is manufactured and sold outside of the United States :theflyonthewall.com |
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