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Financial Report: PDL BioPharma

Revenues up 18% in the quarter

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By: Tim Wright

Editor-in-Chief, Contract Pharma

PDL BioPharma

4Q Revenues: $86.0 million (+18%)

4Q Earnings: $49.4 million (+27%)

FY Revenues: $374.5 million (+3%)

FY Earnings: $211.7 million (+6%)

Comments: Growth in the quarter was primarily driven by increased royalties from sales of Herceptin and Avastin, which are marketed by Genentech and Roche. Royalty revenues for the year were up 7%.

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