Published on September 9, 2009 at 5:57 AM
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.
Source: http://www.pdl.com
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