UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): May 3, 2012
PDL BioPharma, Inc.
(Exact name of Company as specified in its charter)
000-19756
(Commission File Number)
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Delaware
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94-3023969
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(State or Other Jurisdiction of Incorporation)
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(I.R.S. Employer Identification No.)
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932 Southwood Boulevard
Incline Village, Nevada 89451
(Address of principal executive offices, with zip code)
(775) 832-8500
(Company’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company under any of the following provisions:
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¨
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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¨
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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¨
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 2.02 Results of Operations and Financial Condition.
On May 3, 2012, PDL BioPharma, Inc. (the Company) issued a press release announcing the financial results for the first quarter ended March 31, 2012. A copy of this earnings release is attached hereto as Exhibit 99.1. The Company will host an earnings call and webcast on May 3, 2012, during which the Company will discuss its financial results for the first quarter ended March 31, 2012.
Item 7.01 Regulation FD Disclosure.
Presentation Materials
On May 3, 2012, the Company posted to its website a set of presentation materials that it will use during its earnings call and webcast to assist participants with understanding the Company’s financial results. A copy of this presentation is attached hereto at Exhibit 99.2
Information Sheet
On May 3, 2012, the Company distributed to analysts covering the Company’s securities a summary of certain information regarding the Company’s net income, non-GAAP net income, dividends, convertible notes, product development, and licensed product development and sales (the Information Sheet) to assist those analysts in valuing the Company’s securities. Copies of the Information Sheet and its associated tables are attached hereto as Exhibits 99.3 and 99.4, respectively.
Limitation of Incorporation by Reference
In accordance with General Instruction B.2. of Form 8-K, the information in this report, including the exhibits, is furnished pursuant to Items 2.02 and 7.01 and shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.
Cautionary Statements
This filing includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Important factors that could impair the Company’s royalty assets or business are disclosed in the “Risk Factors” contained in the Company’s Annual Report on Form 10-K and other periodic reports filed with the Securities and Exchange Commission. All forward-looking statements are expressly qualified in their entirety by such factors. We do not undertake any duty to update any forward-looking statement except as required by law.
Item 9.01 Financial Statements and Exhibits.
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Exhibit No.
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Description
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99.1
99.2
99.3
99.4
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Press Release
Presentation
Information Sheet
Tables to Information Sheet
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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PDL BIOPHARMA, INC.
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|||
| (Company) | |||
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By:
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/s/ John P. McLaughlin | ||
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John P. McLaughlin
President, Chief Executive Officer and Acting
Chief Financial Officer
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|||
| Dated: May 3, 2012 | |||
EXHIBIT INDEX
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Exhibit No.
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Description
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99.1
99.2
99.3
99.4
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Press Release
Presentation
Information Sheet
Tables to Information Sheet
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Exhibit 99.1
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Contacts:
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| John McLaughlin | Jennifer Williams |
| PDL BioPharma, Inc. | Cook Williams Communications |
| 775-832-8500 | 360-668-3701 |
| john.mclaughlin@pdl.com | jennifer@cwcomm.org |
PDL BioPharma Announces First Quarter 2012 Financial Results
INCLINE VILLAGE, NV, May 3, 2012 – PDL BioPharma, Inc. (PDL) (NASDAQ: PDLI) today reported financial results for the first quarter ended March 31, 2012.
Royalty revenues for the first quarter of 2012 increased five percent over the same period of 2011. Total revenues for the first quarter of 2012 were $77.3 million, compared to $83.3 million for the same period of 2011. Total revenue for the first quarter of 2011 included a one-time settlement payment of $10 million from UCB Pharma.
Royalty revenues for the first quarter of 2012 are based on fourth quarter 2011 product sales by PDL’s licensees. The growth in royalty revenues was driven primarily by increased royalties from fourth quarter 2011 sales of Herceptin®, which is marketed by Genentech and Roche, Lucentis® and Xolair®, which are marketed by Genentech and Novartis, and Tysabri®, which is marketed by Elan and Biogen Idec. Royalty revenue for the first quarter is net of payments made under our February 2011 settlement agreement with Novartis Pharma AG.
General and administrative expenses for the first quarter of 2012 were $6.9 million, compared with $5.8 million in the same period of 2011. The increase in expenses is mainly due to expenses incurred with the tender offer and exchange transactions for the 2.875% Series 2012 Convertible Senior Notes due February 15, 2015 (Series 2012 Notes) and our efforts to acquire new royalty assets.
Net income for the first quarter of 2012 was $40.2 million, or $0.29 per diluted share as compared with net income of $44.5 million, or $0.25 per diluted share in the comparable quarter of 2011. Adjusting for the non-cash interest expense associated with our Series 2012 Notes and 3.75% Convertible Senior Notes due 2015 (May 2015 Notes), non-GAAP net income for the first quarter of 2012 was $41.8 million, or $0.30 per diluted share, compared to non-GAAP net income of $44.5 million, or $0.25 per diluted share for the same period of 2011.
Net cash provided by operating activities in the first quarter of 2012 was $17.9 million, compared with net cash used in operating activities of $13.2 million for the first quarter of 2011. At March 31, 2012, PDL had cash, cash equivalents and investments of $192.5 million, compared with $227.9 million at December 31, 2011.
Recent Developments
2012 Dividends
On January 18, 2012, PDL’s Board of Directors declared regular quarterly dividends of $0.15 per share of common stock, payable on March 14, June 14, September 14 and December 14 of 2012 to stockholders of record on March 7, June 7, September 7 and December 7 of 2012, the record dates for each of the dividend payments, respectively. On March 14, 2012, PDL paid the first quarterly dividend to stockholders of record totaling $21 million using earnings generated in the first quarter of 2012 and cash on hand.
Exchange and Retirement of Convertible Notes
In January and February 2012, PDL completed public and privately negotiated exchange transactions whereby the Company exchanged and subsequently retired $179.0 million aggregate principal amount, representing over 99 percent of the 2.875% Convertible Senior Notes due February 15, 2015 (February 2015 Notes), for $179.0 million aggregate principal amount of new 2.875% Series 2012 Notes, and by doing so, eliminated 27.8 million shares of potential dilution to our stock holders. In the public exchanges, PDL made one-time cash payments of $5.00 for each $1,000 principal amount tendered for a total cash incentive payment of $0.8 million. As of March 31, 2012, $1.0 million of the February 2015 Notes and $179.0 million of the Series 2012 Notes were outstanding.
Revenue Guidance for 2012
As previously announced, PDL will continue to provide revenue guidance for each quarter in the third month of that quarter. Second quarter 2012 revenue guidance will be provided in early June.
Conference Call Details
PDL will hold a conference call to discuss financial results at 4:30 p.m. ET today, May 3, 2012.
To access the live conference call via phone, please dial (877) 677-9122 from the United States and Canada or (708) 290-1401 internationally. Please dial in approximately 10 minutes prior to the start of the call. A telephone replay will be available beginning approximately one hour after the call through May 10, 2012, and may be accessed by dialing (855) 859-2056 from the United States and Canada or (404) 537-3406 internationally. The replay passcode is 75297323.
To access the live and subsequently archived webcast of the conference call, go to the Company’s website at http://www.pdl.com and go to “Company Presentations & Events.” Please connect to the website at least 15 minutes prior to the call to allow for any software download that may be necessary.
About PDL BioPharma
PDL pioneered the humanization of monoclonal antibodies and, by doing so, enabled the discovery of a new generation of targeted treatments for cancer and immunologic diseases. Today, PDL is focused on intellectual property asset management, investing in new royalty bearing assets and maximizing the value of its patent portfolio and related assets. For more information, please visit www.pdl.com.
NOTE: PDL BioPharma and the PDL BioPharma logo are considered trademarks of PDL BioPharma, Inc.
Forward-looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from those, express or implied, in these forward-looking statements. Important factors that could impair the value of the Company's royalty assets, restrict or impede the ability of the Company to invest in new royalty bearing assets and limit the Company's ability to pay dividends are disclosed in the risk factors contained in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission and updated by subsequent Quarterly Reports on Form 10-Q. All forward-looking statements are expressly qualified in their entirety by such factors. We do not undertake any duty to update any forward-looking statement except as required by law.
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PDL BIOPHARMA, INC.
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS DATA
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||||||||
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(Unaudited)
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||||||||
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(In thousands, except per share amounts)
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||||||||
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Three Months Ended
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March 31,
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2012
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2011
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Revenues:
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Royalties
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$ | 77,344 | $ | 73,336 | ||||
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License and other
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- | 10,000 | ||||||
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Total revenues
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77,344 | 83,336 | ||||||
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General and administrative expenses
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6,945 | 5,779 | ||||||
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Operating income
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70,399 | 77,557 | ||||||
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Non-operating expense, net
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Interest and other income
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90 | 175 | ||||||
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Interest expense
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(8,700 | ) | (9,154 | ) | ||||
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Non-operating expense, net
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(8,610 | ) | (8,979 | ) | ||||
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Income before income taxes
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61,789 | 68,578 | ||||||
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Income tax expense
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21,605 | 24,033 | ||||||
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Net income
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$ | 40,184 | $ | 44,545 | ||||
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Net income per share
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Basic
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$ | 0.29 | $ | 0.32 | ||||
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Diluted
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$ | 0.29 | $ | 0.25 | ||||
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Cash dividends declared per common share
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$ | 0.60 | $ | 0.60 | ||||
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Weighted average shares outstanding
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||||||||
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Basic
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139,680 | 139,640 | ||||||
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Diluted
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140,204 | 184,954 | ||||||
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PDL BIOPHARMA, INC.
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RECONCILIATION OF GAAP FINANCIAL INFORMATION TO NON-GAAP
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||||||||
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(Unaudited)
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||||||||
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(In thousands, except per share amounts)
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||||||||
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Three Months Ended March 31,
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2012
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2011
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|||||||
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Net income
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$ | 40,184 | $ | 44,545 | ||||
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Add Back:
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Amortization of Series 2012 Notes and May 2015 Notes debt discount, net of estimated taxes
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1,596 | - | ||||||
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Non-GAAP net income
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41,780 | 44,545 | ||||||
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Add back interest expense for implied conversion of convertible notes included in determination of fully diluted shares, net of estimated taxes
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27 | 1,275 | ||||||
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Non-GAAP income used to compute non-GAAP net income per diluted share
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$ | 41,807 | $ | 45,820 | ||||
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Shares used to compute non-GAAP net income per diluted share
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140,204 | 184,954 | ||||||
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Non-GAAP net income per diluted share
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$ | 0.30 | $ | 0.25 | ||||
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PDL BIOPHARMA, INC.
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GENERAL AND ADMINISTRATIVE EXPENSE DATA
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(Unaudited)
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||||||||
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(In thousands)
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||||||||
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Three Months Ended March 31,
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(Dollars in thousands)
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2012
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2011
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Compensation and benefits
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$ | 1,124 | $ | 942 | ||||
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Legal expense
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3,529 | 3,495 | ||||||
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Professional services
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1,029 | 568 | ||||||
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Stock-based compensation
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204 | 50 | ||||||
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All Other
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1,059 | 724 | ||||||
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Total general and administrative expenses
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$ | 6,945 | $ | 5,779 | ||||
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PDL BIOPHARMA, INC.
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CONDENSED CONSOLIDATED BALANCE SHEET DATA
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||||||||
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(Unaudited)
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||||||||
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(In thousands)
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||||||||
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||||||||
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March 31, 2012
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December 31, 2011
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|||||||
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Cash, cash equivalents and investments
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$ | 192,512 | $ | 227,946 | ||||
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Total assets
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$ | 234,963 | $ | 269,471 | ||||
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Non-recourse notes payable
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$ | 69,531 | $ | 93,370 | ||||
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Convertible notes payable
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$ | 302,241 | $ | 316,615 | ||||
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Total stockholders' deficit
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$ | (243,780 | ) | $ | (204,273 | ) | ||
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PDL BIOPHARMA, INC.
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||||||||
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW DATA
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||||||||
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(Unaudited)
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||||||||
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(In thousands)
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||||||||
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Three Months Ended
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March 31,
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||||||||
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2012
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2011
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|||||||
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Net income
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$ | 40,184 | $ | 44,545 | ||||
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Adjustments to reconcile net income to net cash provided by operating activities
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6,215 | 2,409 | ||||||
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Changes in assets and liabilities
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(28,503 | ) | (60,106 | ) | ||||
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Net cash provided by operating activities
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$ | 17,896 | $ | (13,152 | ) | |||
| PDL BIOPHARMA, INC. | ||||
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MIX OF EX-U.S. SALES AND EX-U.S.-BASED MANUFACTURING AND SALES
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||||
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(Unaudited)
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Three Months Ended
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|||||||||
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March 31,
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|||||||||
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2012
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2011
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Avastin
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% Ex-U.S. Sold
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57 | % | 56 | % | |||||
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% Ex-U.S.-based Manufactured and Sold
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27 | % | 19 | % | |||||
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Herceptin
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% Ex-U.S. Sold
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70 | % | 71 | % | |||||
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% Ex-U.S.-based Manufactured and Sold
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35 | % | 40 | % | |||||
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Lucentis
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|||||||||
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% Ex-U.S. Sold
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60 | % | 57 | % | |||||
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% Ex-U.S.-based Manufactured and Sold
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0 | % | 0 | % | |||||
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Xolair
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|||||||||
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% Ex-U.S. Sold
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40 | % | 39 | % | |||||
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% Ex-U.S.-based Manufactured and Sold
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40 | % | 39 | % | |||||
Exhibit 99.2
Exhibit 99.3
PDL BioPharma, Inc.
Q1-2012
May 3, 2012
Following are some of the key points regarding PDL’s first quarter 2012 financial and business results.
GAAP and Non-GAAP Net Income
Net income for the first quarter of 2012 was $40.2 million or $0.29 per diluted share as compared with a net income of $44.5 million or $0.25 per diluted share for the same period of 2011. First quarter net income per diluted share is higher in 2012 when compared to 2011 because we eliminated 44.8 million dilutive shares from the diluted earnings per share calculation by restructuring two of our convertible notes in 2011 and early 2012 to "net share settle."
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·
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Non-GAAP net income for the first quarter of 2012 was $41.8 million, or $0.30 per diluted share, compared to non-GAAP net income of $44.5 million, or $0.25 per diluted share for the first quarter of 2011.
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These non-GAAP financial measures exclude the effect of imputed non-cash interest on our “net-share” settled convertible notes, net of estimated taxes, from GAAP net income. We believe this exclusion facilitates comparison to PDL’s cash operating results.
2012 Dividends
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·
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We declared a regular, quarterly dividend of $0.15 per share of common stock payable on March 14, June 14, September 14 and December 14 to stockholders of record on March 7, June 7, September 7 and December 7.
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·
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We paid $0.15 per share of common stock, or $21.0 million, to our stockholders on March 14, 2012, to stockholders of record on March 7, 2012, as part of our regular, quarterly dividend policy for 2012.
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Adjustments to Convertible Notes Conversion Rates
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·
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The conversion rate for our Convertible Senior Notes due February 15, 2015 (February 2015 Notes) was adjusted to 159.098 shares of common stock per $1,000 principal amount, or a conversion price of approximately $6.29 per share, effective March 8, 2012.
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·
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The conversion rate for our 3.75% Senior Convertible Notes due May 1, 2015 (May 2015 Notes), was adjusted to 139.2165 shares of common stock per $1,000 principal amount, or a conversion price of approximately $7.18 per share, effective March 5, 2012.
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·
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The conversion rate for our 2.875% Series 2012 Convertible Notes due February 15, 2015 (Series 2012 Notes) is 159.098 shares of common stock per $1,000 principal amount, or a conversion price of approximately $6.29 per share, effective March 5, 2012.
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Page 1
PDL BioPharma, Inc.
Q1-2012
May 3, 2012
Updates on Approved Royalty Bearing Products
ACTEMRA®/RoACTEMRA (tocilizumab):
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·
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On March 1, 2012, Genentech announced positive preliminary results showing that patients who received Actemra as monotherapy achieved a significantly greater reduction in disease activity (assessed by the mean change of DAS28) after 24 weeks than those given Humira monotherapy.
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•
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Statistical significance was also achieved for key secondary endpoints including DAS28 remission and low disease activity, ACR20, 50 and 70.
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HERCEPTIN® (trastuzumab):
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·
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On March 23, 2012, Roche and Genentech announced results from the Phase III HannaH study in women with HER2-positive early breast cancer showing that subcutaneous (under the skin) injection is as effective as intravenous administration.
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TYSABRI® (natalizumab):
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·
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On April 26, 2012, Biogen Idec and Elan Corporation, plc reported results from several studies of TYSABRI evaluating its long-term safety and efficacy in the treatment of multiple sclerosis (MS) across the course of disease and impact on MS-related symptoms such as fatigue. These data, as well as data relating to the companies' risk stratification algorithm as a way to help enable individual benefit risk assessment for patients with MS, were accepted for presentation at the 64th Annual Meeting of the American Academy of Neurology (AAN).
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·
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As of March 2012, Biogen Idec estimates that approximately 66,600 patients were on commercial and clinical TYSABRI therapy worldwide.
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Updates on Selected Development Stage Potential Royalty Bearing Products
BAPINEUZUMAB:
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·
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An April 2, 2012, publication in the Archives of Neurology indicated that bapineuzumab might lower a marker of Alzheimer’s in the spinal fluid of patients with mild to moderate disease.
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T-DM1:
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·
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On March 29, 2012, Roche and Genentech reported topline results of EMILIA, the first randomized Phase III study of trastuzumab emtansine (T-DM1). The study showed that patients with HER2-positive metastatic breast cancer who received T-DM1 lived significantly longer without their disease getting worse compared to those who received lapatinib plus Xeloda® (capecitabine).
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Forward-looking Statements
This document contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from those, express or implied, in these forward-looking statements. Important factors that could impair the value of the Company's royalty assets, restrict or impede the ability of the Company to invest in new royalty bearing assets and limit the Company's ability to pay dividends are disclosed in the risk factors contained in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission, and updated by subsequent Quarterly Reports on Form 10-Q. All forward-looking statements are expressly qualified in their entirety by such factors. We do not undertake any duty to update any forward-looking statement except as required by law.
###
Page 2
Exhibit 99.4
Royalty Revenue by Product ($ in 000's) *
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Avastin
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Q1 | Q2 | Q3 | Q4 |
Total
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|||||||||||||||
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2012
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23,215 | - | - | - | 23,215 | |||||||||||||||
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2011
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22,283 | 41,967 | 23,870 | 22,886 | 111,006 | |||||||||||||||
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2010
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16,870 | 44,765 | 29,989 | 24,922 | 116,547 | |||||||||||||||
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2009
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13,605 | 35,161 | 21,060 | 15,141 | 84,966 | |||||||||||||||
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2008
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9,957 | 30,480 | 19,574 | 12,394 | 72,405 | |||||||||||||||
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2007
|
8,990 | 21,842 | 17,478 | 9,549 | 57,859 | |||||||||||||||
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2006
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10,438 | 15,572 | 15,405 | 12,536 | 53,952 | |||||||||||||||
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Herceptin
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Q1 | Q2 | Q3 | Q4 |
Total
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|||||||||||||||
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2012
|
25,702 | - | - | - | 25,702 | |||||||||||||||
|
2011
|
25,089 | 42,209 | 31,933 | 21,812 | 121,042 | |||||||||||||||
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2010
|
23,402 | 38,555 | 27,952 | 25,441 | 115,350 | |||||||||||||||
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2009
|
16,003 | 32,331 | 26,830 | 18,615 | 93,779 | |||||||||||||||
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2008
|
14,092 | 34,383 | 28,122 | 20,282 | 96,880 | |||||||||||||||
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2007
|
19,035 | 28,188 | 22,582 | 14,802 | 84,608 | |||||||||||||||
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2006
|
15,142 | 19,716 | 21,557 | 20,354 | 76,769 | |||||||||||||||
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Lucentis
|
Q1 | Q2 | Q3 | Q4 |
Total
|
|||||||||||||||
|
2012
|
10,791 | - | - | - | 10,791 | |||||||||||||||
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2011
|
8,878 | 24,313 | 12,157 | 10,750 | 56,099 | |||||||||||||||
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2010
|
7,220 | 19,091 | 10,841 | 8,047 | 45,198 | |||||||||||||||
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2009
|
4,621 | 12,863 | 8,123 | 6,152 | 31,759 | |||||||||||||||
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2008
|
3,636 | 11,060 | 7,631 | 4,549 | 26,876 | |||||||||||||||
|
2007
|
2,931 | 6,543 | 6,579 | 3,517 | 19,570 | |||||||||||||||
|
2006
|
- | - | 289 | 3,335 | 3,624 | |||||||||||||||
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Xolair
|
Q1 | Q2 | Q3 | Q4 |
Total
|
|||||||||||||||
|
2012
|
5,447 | - | - | - | 5,447 | |||||||||||||||
|
2011
|
4,590 | 7,621 | 5,916 | 5,823 | 23,949 | |||||||||||||||
|
2010
|
3,723 | 6,386 | 4,980 | 4,652 | 19,741 | |||||||||||||||
|
2009
|
2,665 | 5,082 | 4,085 | 3,722 | 15,553 | |||||||||||||||
|
2008
|
1,488 | 4,866 | 3,569 | 2,927 | 12,850 | |||||||||||||||
|
2007
|
1,684 | 3,942 | 3,332 | 2,184 | 11,142 | |||||||||||||||
|
2006
|
2,263 | 2,969 | 3,041 | 2,495 | 10,768 | |||||||||||||||
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Tysabri
|
Q1 | Q2 | Q3 | Q4 |
Total
|
|||||||||||||||
|
2012
|
11,233 | - | - | - | 11,233 | |||||||||||||||
|
2011
|
9,891 | 10,796 | 11,588 | 11,450 | 43,725 | |||||||||||||||
|
2010
|
8,791 | 8,788 | 8,735 | 9,440 | 35,754 | |||||||||||||||
|
2009
|
6,656 | 7,050 | 7,642 | 8,564 | 29,912 | |||||||||||||||
|
2008
|
3,883 | 5,042 | 5,949 | 6,992 | 21,866 | |||||||||||||||
|
2007
|
839 | 1,611 | 2,084 | 2,836 | 7,370 | |||||||||||||||
|
2006
|
- | - | - | 237 | 237 | |||||||||||||||
|
Actemra
|
Q1 | Q2 | Q3 | Q4 |
Total
|
|||||||||||||||
|
2012
|
1,705 | - | - | - | 1,705 | |||||||||||||||
|
2011
|
913 | 1,136 | 1,401 | 1,460 | 4,910 | |||||||||||||||
|
2010
|
1,587 | 237 | 315 | 688 | 2,827 | |||||||||||||||
|
2009
|
585 | 537 | 909 | 1,197 | 3,228 | |||||||||||||||
|
2008
|
44 | - | 146 | 369 | 559 | |||||||||||||||
|
2007
|
32 | - | - | 17 | 49 | |||||||||||||||
|
2006
|
- | - | - | - | - | |||||||||||||||
* As reported to PDL by its licensees
Totals may not sum due to rounding
Page 1
Reported Net Sales Revenue by Product ($ in 000's) *
|
Avastin
|
Q1 | Q2 | Q3 | Q4 |
Total
|
|||||||||||||||
|
2012
|
1,502,757 | - | - | - | 1,502,757 | |||||||||||||||
|
2011
|
1,597,461 | 1,582,705 | 1,581,095 | 1,469,994 | 6,231,255 | |||||||||||||||
|
2010
|
1,506,788 | 1,596,892 | 1,594,707 | 1,646,218 | 6,344,605 | |||||||||||||||
|
2009
|
1,345,487 | 1,295,536 | 1,439,730 | 1,514,053 | 5,594,806 | |||||||||||||||
|
2008
|
980,715 | 1,084,930 | 1,180,427 | 1,239,382 | 4,485,454 | |||||||||||||||
|
2007
|
678,068 | 746,587 | 797,013 | 875,084 | 3,096,752 | |||||||||||||||
|
2006
|
439,318 | 516,052 | 570,551 | 592,897 | 2,118,817 | |||||||||||||||
|
Herceptin
|
Q1 | Q2 | Q3 | Q4 |
Total
|
|||||||||||||||
|
2012
|
1,515,255 | - | - | - | 1,515,255 | |||||||||||||||
|
2011
|
1,391,568 | 1,559,975 | 1,642,898 | 1,432,771 | 6,027,211 | |||||||||||||||
|
2010
|
1,270,846 | 1,349,512 | 1,300,934 | 1,409,310 | 5,330,602 | |||||||||||||||
|
2009
|
1,210,268 | 1,133,993 | 1,226,435 | 1,278,626 | 4,849,323 | |||||||||||||||
|
2008
|
1,105,426 | 1,195,215 | 1,211,982 | 1,186,806 | 4,699,428 | |||||||||||||||
|
2007
|
891,761 | 949,556 | 979,602 | 1,015,033 | 3,835,952 | |||||||||||||||
|
2006
|
529,585 | 659,719 | 761,099 | 803,576 | 2,753,979 | |||||||||||||||
|
Lucentis
|
Q1 | Q2 | Q3 | Q4 |
Total
|
|||||||||||||||
|
2012
|
1,079,092 | - | - | - | 1,079,092 | |||||||||||||||
|
2011
|
887,757 | 943,418 | 1,052,809 | 1,075,015 | 3,958,999 | |||||||||||||||
|
2010
|
721,967 | 698,890 | 745,376 | 804,684 | 2,970,917 | |||||||||||||||
|
2009
|
462,103 | 469,736 | 555,296 | 615,212 | 2,102,347 | |||||||||||||||
|
2008
|
363,615 | 393,682 | 460,167 | 454,922 | 1,672,386 | |||||||||||||||
|
2007
|
224,820 | 219,579 | 299,995 | 322,300 | 1,066,695 | |||||||||||||||
|
2006
|
- | - | 10,689 | 157,742 | 168,431 | |||||||||||||||
|
Xolair
|
Q1 | Q2 | Q3 | Q4 |
Total
|
|||||||||||||||
|
2012
|
310,234 | - | - | - | 310,234 | |||||||||||||||
|
2011
|
267,754 | 277,642 | 310,874 | 314,911 | 1,171,182 | |||||||||||||||
|
2010
|
228,859 | 225,878 | 251,055 | 263,389 | 969,179 | |||||||||||||||
|
2009
|
184,669 | 181,086 | 211,006 | 219,693 | 796,454 | |||||||||||||||
|
2008
|
137,875 | 169,521 | 177,179 | 183,753 | 668,329 | |||||||||||||||
|
2007
|
129,172 | 130,700 | 144,250 | 147,754 | 551,876 | |||||||||||||||
|
2006
|
95,241 | 99,354 | 112,608 | 118,002 | 425,204 | |||||||||||||||
|
Tysabri
|
Q1 | Q2 | Q3 | Q4 |
Total
|
|||||||||||||||
|
2012
|
374,430 | - | - | - | 374,430 | |||||||||||||||
|
2011
|
329,696 | 356,876 | 388,758 | 381,618 | 1,456,948 | |||||||||||||||
|
2010
|
293,047 | 287,925 | 293,664 | 316,657 | 1,191,292 | |||||||||||||||
|
2009
|
221,854 | 229,993 | 257,240 | 285,481 | 994,569 | |||||||||||||||
|
2008
|
129,430 | 163,076 | 200,783 | 233,070 | 726,359 | |||||||||||||||
|
2007
|
30,468 | 48,715 | 71,972 | 94,521 | 245,675 | |||||||||||||||
|
2006
|
- | - | - | 7,890 | 7,890 | |||||||||||||||
|
Actemra
|
Q1 | Q2 | Q3 | Q4 |
Total
|
|||||||||||||||
|
2012
|
56,662 | - | - | - | 56,662 | |||||||||||||||
|
2011
|
30,433 | 35,370 | 46,709 | 48,671 | 161,183 | |||||||||||||||
|
2010
|
52,908 | 5,405 | 10,493 | 22,919 | 91,725 | |||||||||||||||
|
2009
|
19,504 | 17,920 | 30,313 | 39,888 | 107,625 | |||||||||||||||
|
2008
|
1,452 | 1,377 | 5,981 | 12,305 | 21,115 | |||||||||||||||
|
2007
|
- | - | - | 1,137 | 1,137 | |||||||||||||||
|
2006
|
- | - | - | - | - | |||||||||||||||
* As reported to PDL by its licensees
Totals may not sum due to rounding
Page 2
Manufacturing Location & Sales - Genentech / Roche & Novartis ($ in 000's) *
|
Avastin Sales
|
2010 - Q4 | 2011 - Q1 | 2011 - Q2 | 2011 - Q3 | 2011 - Q4 | 2012 - Q1 | ||||||||||||||||||
|
US Made & Sold
|
800,139 | 708,539 | 719,967 | 688,966 | 684,878 | 652,824 | ||||||||||||||||||
|
US Made & ex-US Sold
|
415,576 | 580,981 | 548,710 | 587,975 | 375,830 | 448,037 | ||||||||||||||||||
|
ex-US Made & Sold
|
430,503 | 307,941 | 314,028 | 304,155 | 409,286 | 401,896 | ||||||||||||||||||
|
Total
|
1,646,218 | 1,597,461 | 1,582,705 | 1,581,095 | 1,469,994 | 1,502,757 | ||||||||||||||||||
|
US Made & Sold
|
49 | % | 44 | % | 45 | % | 44 | % | 47 | % | 43 | % | ||||||||||||
|
US Made & ex-US Sold
|
25 | % | 36 | % | 35 | % | 37 | % | 26 | % | 30 | % | ||||||||||||
|
ex-US Made & Sold
|
26 | % | 19 | % | 20 | % | 19 | % | 28 | % | 27 | % | ||||||||||||
|
Herceptin Sales
|
2010 - Q4 | 2011 - Q1 | 2011 - Q2 | 2011 - Q3 | 2011 - Q4 | 2012 - Q1 | ||||||||||||||||||
|
US Made & Sold
|
416,611 | 409,854 | 442,903 | 445,395 | 453,168 | 456,920 | ||||||||||||||||||
|
US Made & ex-US Sold
|
425,303 | 423,053 | 642,670 | 495,086 | 612,908 | 523,353 | ||||||||||||||||||
|
ex-US Made & Sold
|
567,396 | 558,661 | 474,402 | 702,416 | 366,695 | 534,982 | ||||||||||||||||||
|
Total
|
1,409,310 | 1,391,568 | 1,559,975 | 1,642,898 | 1,432,771 | 1,515,255 | ||||||||||||||||||
|
US Made & Sold
|
30 | % | 29 | % | 28 | % | 27 | % | 32 | % | 30 | % | ||||||||||||
|
US Made & ex-US Sold
|
30 | % | 30 | % | 41 | % | 30 | % | 43 | % | 35 | % | ||||||||||||
|
ex-US Made & Sold
|
40 | % | 40 | % | 30 | % | 43 | % | 26 | % | 35 | % | ||||||||||||
|
Lucentis Sales
|
2010 - Q4 | 2011 - Q1 | 2011 - Q2 | 2011 - Q3 | 2011 - Q4 | 2012 - Q1 | ||||||||||||||||||
|
US Made & Sold
|
360,911 | 378,451 | 409,674 | 422,335 | 428,884 | 433,428 | ||||||||||||||||||
|
US Made & ex-US Sold
|
443,773 | 509,307 | 533,745 | 630,474 | 646,131 | 645,665 | ||||||||||||||||||
|
ex-US Made & Sold
|
- | - | - | - | - | - | ||||||||||||||||||
|
Total
|
804,684 | 887,757 | 943,418 | 1,052,809 | 1,075,015 | 1,079,092 | ||||||||||||||||||
|
US Made & Sold
|
45 | % | 43 | % | 43 | % | 40 | % | 40 | % | 40 | % | ||||||||||||
|
US Made & ex-US Sold
|
55 | % | 57 | % | 57 | % | 60 | % | 60 | % | 60 | % | ||||||||||||
|
ex-US Made & Sold
|
0 | % | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||||||
|
Xolair Sales
|
2010 - Q4 | 2011 - Q1 | 2011 - Q2 | 2011 - Q3 | 2011 - Q4 | 2012 - Q1 | ||||||||||||||||||
|
US Made & Sold
|
170,001 | 164,621 | 167,608 | 184,837 | 188,728 | 185,505 | ||||||||||||||||||
|
US Made & ex-US Sold
|
- | - | - | - | - | - | ||||||||||||||||||
|
ex-US Made & Sold
|
93,388 | 103,133 | 110,034 | 126,037 | 126,184 | 124,729 | ||||||||||||||||||
|
Total
|
263,389 | 267,754 | 277,642 | 310,874 | 314,911 | 310,234 | ||||||||||||||||||
|
US Made & Sold
|
65 | % | 61 | % | 60 | % | 59 | % | 60 | % | 60 | % | ||||||||||||
|
US Made & ex-US Sold
|
0 | % | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % | ||||||||||||
|
ex-US Made & Sold
|
35 | % | 39 | % | 40 | % | 41 | % | 40 | % | 40 | % | ||||||||||||
|
Total Sales
|
2010 - Q4 | 2011 - Q1 | 2011 - Q2 | 2011 - Q3 | 2011 - Q4 | 2012 - Q1 | ||||||||||||||||||
|
US Made & Sold
|
1,747,662 | 1,661,465 | 1,740,152 | 1,741,534 | 1,755,657 | 1,728,678 | ||||||||||||||||||
|
US Made & ex-US Sold
|
1,284,652 | 1,513,340 | 1,725,125 | 1,713,535 | 1,634,869 | 1,617,054 | ||||||||||||||||||
|
ex-US Made & Sold
|
1,091,287 | 969,735 | 898,464 | 1,132,608 | 902,165 | 1,061,607 | ||||||||||||||||||
|
Total
|
4,123,601 | 4,144,540 | 4,363,741 | 4,587,677 | 4,292,691 | 4,407,339 | ||||||||||||||||||
|
US Made & Sold
|
42 | % | 40 | % | 40 | % | 38 | % | 41 | % | 39 | % | ||||||||||||
|
US Made & ex-US Sold
|
31 | % | 37 | % | 40 | % | 37 | % | 38 | % | 37 | % | ||||||||||||
|
ex-US Made & Sold
|
26 | % | 23 | % | 21 | % | 25 | % | 21 | % | 24 | % |
* As reported to PDL by its licensees
Totals may not sum due to rounding
Page 3