Exhibit 99.3
PDL BioPharma, Inc.
Q4-Year End 2014
February 23, 2014
Following are some of the key points regarding PDL’s fourth quarter and year-end 2014 financial and business results.
Net Income
Net income in 2014 was $322.2 million, or $1.86 per diluted share as compared with net income in 2013 of $264.5 million, or $1.66 per diluted share. Net income for the fourth quarter of 2014 was $55.1 million, or $0.32 per diluted share, as compared with net income of $61.1 million in the same period of 2013, or $0.39 per diluted share.
Earnings per Share: Reconciliation of Basic Shares to Fully Diluted Shares
The following table lists the reconciliation of basic shares to fully diluted shares:
|
| | | | | |
| | Year Ended December 31, |
| (In thousands, except per share amounts) | 2014 | | 2013 |
| Numerator | | | |
| Income used to compute net income per diluted share | $ 322,244 |
| | $ 264,555 |
|
| | | | |
| Denominator | | | |
| Total weighted-average shares used to compute net income per basic share | 158,224 |
| | 139,842 |
|
| Effect of dilutive stock options | 126 |
| | 83 |
|
| Restricted stock awards | 21 |
| | 20 |
|
| Assumed conversion of Series 2012 Notes | 3,532 |
| | 12,373 |
|
| Assumed conversion of February 2015 Notes | — |
| | 106 |
|
| Assumed conversion of warrants | 5,510 |
| | — |
|
| Assumed conversion of May 2015 Notes | 5,697 |
| | 6,919 |
|
| Shares used to compute net income per diluted share | 173,110 |
| | 159,343 |
|
| Net income per basic share | $ 2.04 |
| | $ 1.89 |
|
| Net income per diluted share | $ 1.86 |
| | $ 1.66 |
|
While in accordance with Generally Accepted Accounting Principles (GAAP) and reflects the potential conversion of shares at December 31, 2014 it does not reflect subsequent events and certain bond hedge transactions entered into by PDL. For example, it includes 3.5 million shares related to the assumed conversion of the Series 2012 notes which occurred in February 2015 and will be reported Q1 2015 as 1.34 million shares. It also includes the assumed conversion of the May 2015 Notes which will mature in May 2015, which is approximately 5.7 million and an additional 5.5 million warrants which were issued. Missing in this reconciliation is the anti-dilutive effect of the call option on the bond hedge PDL entered into, which effectively will offset the assumed 5.7 million shares related conversion of the May. Because GAAP and accounting guidance does not allow inclusion of the anti-dilutive effect of the bond hedge, it effectively results in double dilution on the fully diluted share calculation. More details on this calculation this can be found on page 64 of our filed 10-K.
Quarterly Dividends
On January 27, 2015, PDL’s Board of Directors declared regular quarterly dividends of $0.15 per share of common stock, payable on March 12, June 12, September 11 and December 11 of 2015 to all stockholders who own shares of PDL on March 5, June 5, September 4 and December 4 of 2015, the record dates for each of the dividend payments, respectively. On December 12, 2014, PDL paid the fourth quarterly dividend to stockholders of record totaling $24.3 million using earnings generated in the fourth quarter of 2014.
PDL BioPharma, Inc.
Q4-Year End 2014
February 23, 2015
Updates on Approved Royalty Bearing Products related to Queen et al. patents
Avastin® (bevacizumab):
| |
| • | On January 28, 2015, Genentech/Roche reported that 2014 worldwide sales were CHF 6.417 billion and increased by 6%. |
| |
| ◦ | EU: Growth driven by further uptake in ovarian and strong demand across other indications. |
| |
| ◦ | US: Sales driven by growing demand in colorectal, cervical and ovarian cancer. |
| |
| ◦ | Japan: Driven by higher sales in breast cancer, as well as ovarian cancer and malignant glioma. |
| |
| ◦ | International: Strong growth driven by launches in a number of markets for ovarian cancer treatment, as well as by demand in colorectal cancer. |
| |
| • | On August 14, 2014, Genentech announced US approval for the treatment of persistent, recurrent or metastatic cervical cancer in combination with chemotherapy. |
| |
| • | On November 14, 2014, Genentech announced US approval for the treatment of recurrent platinum-resistant ovarian cancer. |
| |
| • | On August 6, 2014, Roche reported EU approval for the treatment of ovarian cancer that is resistant to platinum-based chemotherapy. |
Herceptin® (trastuzumab):
| |
| • | On January 28, 2015, Genentech/Roche reported that 2014 worldwide sales were CHF 6.275 billion and increased by 7%. |
| |
| • | Continued strong growth in Herceptin benefiting from higher volumes / prolonged treatment times. |
Lucentis® (ranibizumab):
| |
| • | On January 27, 2015, Novartis reported that 2014 ex-US sales were $2.441 billion and increased by 5%. |
Xolair® (omalizumab):
| |
| • | On January 27, 2015, Novartis reported that 2014 ex-US sales were $777 million and increased by 30%. |
| |
| • | On January 28, 2015, Genentech/Roche reported that 2014 worldwide sales were CHF 975 million and increased by 25%. |
| |
| • | In March 2014, both Genentech/Roche and Novartis reported US and EU had approvals, respectively, for treatment of chronic idiopathic urticaria. |
| |
| • | On September 26, 2014, FDA updated the label to warn about a slightly increased risk of cardiovascular and cerebrovascular events as well as a potential risk of cancer. |
Tysabri® (natalizumab):
| |
| • | On January 29, 2015, Biogen Idec reported that 2014 worldwide sales were approximately $2 billion, consisting of $1 billion in U.S. sales and $934 million in sales outside the U.S. |
Actemra® (tocilizumab):
| |
| • | On January 28, 2015, Genentech/Roche reported that 2014 worldwide sales were CHF 1.224 billion and increased by 23%. |
| |
| ◦ | US, EU & Japan: Strong growth driven by increased use in monotherapy and earlier use for RA, with significant uptake of new subcutaneous formulation. EU approval for early-stage RA. |
| |
| ◦ | International: Growth driven by strong launches in China and Turkey, and continued fast uptake in Australia and Argentina. |
| |
| • | On September 8, 2014, Roche announced EU approval for treatment of patients with early rheumatoid arthritis. |
Perjeta® (pertuzumab):
| |
| • | On January 28, 2015, Genentech/Roche reported that 2014 worldwide sales were CHF 918 million and increased by 189%. |
| |
| ◦ | Perjeta sales grew in all regions with strong uptake in the US, Germany and France. |
| |
| • | On September 28, 2014, Genentech/Roche announced that final data from Phase 3 study in patients with previously untreated HER2+ metastatic breast cancer who were treated with Perjeta, Herceptin and docetaxel lived a median of 56.5 months compared to 40.8 months for patients treated with Herceptin and docetaxel. Median overall survival of almost five year is the longest observed to date in patients with metastatic HER2+ breast cancer. |
PDL BioPharma, Inc.
Q4-Year End 2014
February 23, 2015
Kadcyla® (TDM-1 or ado-trastuzumab emtansine):
| |
| • | On January 28, 2015, Genentech/Roche reported that 2014 worldwide sales were CHF 536 million and increased by 135%. |
| |
| • | On December 18, 2014, Genentech reported that the two Kadcyla arms in MARIANNE trial in first line metastatic breast cancer failed to demonstrate superiority over Herceptin + chemotherapy. This does not affect its current approval as second line treatment for HER2+ metastatic breast cancer. |
Gazyva™ (Obinutuzumab or GA101):
| |
| • | On February 3, 2014, Genentech/Roche reported that an independent data monitoring committee halted its Phase 3 trial in patients with indolent non-Hodgkin’s lymphoma (iNHL) who are refractory to Rituxan treatment because the study met its primary endpoint early. |
| |
| ◦ | The study showed that people lived significantly longer without disease worsening or death (PFS) when treated with Gazyva plus bendamustine followed by Gazyva alone, compared to bendamustine alone. |
| |
| • | On January 28, 2015, Genentech/Roche reported that 2014 worldwide sales were CHF 49 million. |
| |
| • | On December 24, 2014, FDA approved inclusion in the label of data showing significant improvements in chronic lymphocytic leukemia (CLL) patients treated with Gazyva plus chlorambucil across multiple clinical endpoints when compared head-to-head with Rituxan plus chlorambucil. |
| |
| ◦ | Gazyva was approved in the US on November 1, 2013 for previously untreated CLL in combination with chlorambucil. |
| |
| ◦ | On July 29, 2014, Roche announced EU approval for first line treatment of CLL with chlorambucil. |
Solanezumab
| |
| • | On January 30, 2015, Lilly stated during its call with the financial community that it expected to have two year data from the extension of its Phase 3 Expedition trials in patients with mild-to-moderate Alzheimer’s Disease. |
| |
| • | Lilly also reported in the call that the new Phase 3 trial in patients with mild Alzheimer’s Disease is about 2/3 enrolled, that they expect to complete enrollment soon and that they expect data read out in 2016. |
| |
| • | If solanezumab were to receive marketing authorization, PDL would receive a 12.5 year know-how royalty of 2% from date of first sale. |
Updates on Acquired Royalties from Depomed
| |
| • | Current royalty bearing products include: |
| |
| ◦ | Glumetza (U.S, sold by Santarus / Salix) |
| |
| ◦ | Glumetza (Canada, sold by Valeant Pharmaceuticals) |
| |
| ◦ | Glumetza (Korea, sold by LG Life Sciences) |
| |
| ◦ | Janumet XR (world-wide, Sold by Merck) |
| |
| • | Additional products for which we may receive milestones and royalties |
| |
| ◦ | Combination of Invokana® (canagliflozin) and extended-release metformin (Janssen Pharmaceutica) |
Two investigational fixed-dose combinations of drugs and extended-release metformin (Boehringer Ingelheim)
| |
| • | In the fourth quarter of 2014 we recorded a $28.1 million reduction in revenue related to the royalty rights- change in fair value of the Depomed asset. The decrease in royalty rights is primarily a result of a $42.6 million non-cash reduction to the fair value of the Depomed royalty asset due to a re-forecast of expected future cash flows of Glumetza in 2015. In late 2014, Salix Pharmaceuticals, Inc. disclosed there was an excess of supply of Glumetza and other drugs that it commercialized at the distribution level. PDL commenced a review of all public statements by Salix, publicly available historical third-party prescription data, analyst reports and other relevant data sources. PDL also engaged a third-party expert to specifically assess estimated inventory levels of Glumetza in the distribution channel and to ascertain the potential effects those excess inventory levels could have on expected future cash flows. For example, the cash royalties paid to PDL on sales of Glumetza in the third and fourth quarter of 2014 were $51.7 million, approximately $18.9 million above the Company’s internal forecast. Because PDL expects that the sales of Glumetza, and therefore royalties on such sales paid to the Company, will be lower in 2015 as distributors reduce their excess levels of inventory of Glumetza, PDL adjusted the estimated future cash flows of Glumetza. This adjustment resulted in the decrease in fair value of the Glumetza-related royalties. |
PDL BioPharma, Inc.
Q4-Year End 2014
February 23, 2015
| |
| • | Since inception of the transaction (October 2013) to date we have received $113.0 million in cash from this transaction, which exceeded the Company’s initial forecast by $37.5 million and the return of invested capital is approximately 47 percent |
Forward-looking Statements
This document contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from those, express or implied, in these forward-looking statements. Important factors that could impair the value of the Company's royalty assets, restrict or impede the ability of the Company to invest in new income generating assets and limit the Company's ability to pay dividends are disclosed in the risk factors contained in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission, as updated by subsequent filings. All forward-looking statements are expressly qualified in their entirety by such factors. We do not undertake any duty to update any forward looking statement except as required by law.
PDL BioPharma, Inc.
Q4-Year End 2014
February 23, 2015
|
| | | | | | | | | | |
| Queen et al. Royalties |
| Royalty Revenue by Product ($ in 000's) * |
| Avastin | Q1 | Q2 | Q3 | Q4 | Total |
| 2014 | 38,122 |
| 38,924 |
| 38,864 |
| 40,723 |
| 156,632 |
|
| 2013 | 33,234 |
| 46,720 |
| 32,224 |
| 32,287 |
| 144,464 |
|
| 2012 | 23,215 |
| 41,670 |
| 25,955 |
| 30,041 |
| 120,882 |
|
| 2011 | 22,283 |
| 41,967 |
| 23,870 |
| 22,886 |
| 111,006 |
|
| 2010 | 16,870 |
| 44,765 |
| 29,989 |
| 24,922 |
| 116,547 |
|
| 2009 | 13,605 |
| 35,161 |
| 21,060 |
| 15,141 |
| 84,966 |
|
| 2008 | 9,957 |
| 30,480 |
| 19,574 |
| 12,394 |
| 72,405 |
|
| 2007 | 8,990 |
| 21,842 |
| 17,478 |
| 9,549 |
| 57,859 |
|
| 2006 | 10,438 |
| 15,572 |
| 15,405 |
| 12,536 |
| 53,952 |
|
| Herceptin | Q1 | Q2 | Q3 | Q4 | Total |
| 2014 | 36,646 |
| 38,292 |
| 39,407 |
| 40,049 |
| 154,394 |
|
| 2013 | 30,287 |
| 47,353 |
| 30,961 |
| 33,038 |
| 141,640 |
|
| 2012 | 25,702 |
| 44,628 |
| 30,433 |
| 28,307 |
| 129,070 |
|
| 2011 | 25,089 |
| 42,209 |
| 31,933 |
| 21,812 |
| 121,042 |
|
| 2010 | 23,402 |
| 38,555 |
| 27,952 |
| 25,441 |
| 115,350 |
|
| 2009 | 16,003 |
| 32,331 |
| 26,830 |
| 18,615 |
| 93,779 |
|
| 2008 | 14,092 |
| 34,383 |
| 28,122 |
| 20,282 |
| 96,880 |
|
| 2007 | 19,035 |
| 28,188 |
| 22,582 |
| 14,802 |
| 84,608 |
|
| 2006 | 15,142 |
| 19,716 |
| 21,557 |
| 20,354 |
| 76,769 |
|
| Lucentis | Q1 | Q2 | Q3 | Q4 | Total |
| 2014 | 17,390 |
| 16,777 |
| 16,883 |
| 16,695 |
| 67,746 |
|
| 2013 | 12,032 |
| 30,066 |
| 13,536 |
| 12,127 |
| 67,760 |
|
| 2012 | 10,791 |
| 27,938 |
| 12,552 |
| 11,097 |
| 62,377 |
|
| 2011 | 8,878 |
| 24,313 |
| 12,157 |
| 10,750 |
| 56,099 |
|
| 2010 | 7,220 |
| 19,091 |
| 10,841 |
| 8,047 |
| 45,198 |
|
| 2009 | 4,621 |
| 12,863 |
| 8,123 |
| 6,152 |
| 31,759 |
|
| 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 |
|
| Xolair | Q1 | Q2 | Q3 | Q4 | Total |
| 2014 | 8,886 |
| 9,099 |
| 10,442 |
| 11,237 |
| 39,663 |
|
| 2013 | 5,930 |
| 10,025 |
| 7,334 |
| 7,330 |
| 30,619 |
|
| 2012 | 5,447 |
| 8,609 |
| 6,504 |
| 6,145 |
| 26,705 |
|
| 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 |
|
| Perjeta | Q1 | Q2 | Q3 | Q4 | Total |
| 2014 | 3,375 |
| 4,385 |
| 5,157 |
| 5,850 |
| 18,767 |
|
| 2013 | 340 |
| 1,414 |
| 748 |
| 879 |
| 3,381 |
|
| 2012 | — |
| — |
| 58 |
| 250 |
| 308 |
|
PDL BioPharma, Inc.
Q4-Year End 2014
February 23, 2015
|
| | | | | | | | | | |
| Queen et al. Royalties |
| Royalty Revenue by Product ($ in 000's) * |
| Kadcyla | Q1 | Q2 | Q3 | Q4 | Total |
| 2014 | 1,934 |
| 2,491 |
| 3,048 |
| 3,464 |
| 10,937 |
|
| 2013 | — |
| 551 |
| 830 |
| 859 |
| 2,240 |
|
| Tysabri | Q1 | Q2 | Q3 | Q4 | Total |
| 2014 | 12,857 |
| 13,350 |
| 16,048 |
| 15,015 |
| 57,270 |
|
| 2013 | 12,965 |
| 13,616 |
| 11,622 |
| 12,100 |
| 50,304 |
|
| 2012 | 11,233 |
| 12,202 |
| 11,749 |
| 12,255 |
| 47,439 |
|
| 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 |
| 2014 | 3,446 |
| 3,932 |
| 4,419 |
| 5,406 |
| 17,202 |
|
| 2013 | 2,631 |
| 2,816 |
| 2,939 |
| 3,744 |
| 12,131 |
|
| 2012 | 1,705 |
| 2,074 |
| 2,145 |
| 2,462 |
| 8,385 |
|
| 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 |
|
| Gazyva | Q1 | Q2 | Q3 | Q4 | Total |
| 2014 | 51 |
| 283 |
| 325 |
| 436 |
| 1,094 |
|
| Entyvio | Q1 | Q2 | Q3 | Q4 | Total |
| 2014 | — |
| — |
| 153 |
| 2,192 |
| 2,344 |
|
| * As reported to PDL by its licensees. Totals may not sum due to rounding. |
| Q1 2014 royalty revenue by product above do not include a $5 million payment received from Genentech in Q1 2014 for a retroactive settlement payment from 2013. |
PDL BioPharma, Inc.
Q4-Year End 2014
February 23, 2015
|
| | | | | | | | | | |
| Queen et al. Sales Revenue |
| Reported Licensee Net Sales Revenue by Product ($ in 000's) * |
| Avastin | Q1 | Q2 | Q3 | Q4 | Total |
| 2014 | 1,786,912 |
| 1,838,764 |
| 1,828,900 |
| 1,916,353 |
| 7,370,929 |
|
| 2013 | 1,653,108 |
| 1,694,678 |
| 1,746,135 |
| 1,819,877 |
| 6,913,798 |
|
| 2012 | 1,502,757 |
| 1,573,727 |
| 1,551,327 |
| 1,662,977 |
| 6,290,788 |
|
| 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 |
| 2014 | 1,731,564 |
| 1,801,990 |
| 1,854,452 |
| 1,877,614 |
| 7,265,621 |
|
| 2013 | 1,681,574 |
| 1,744,145 |
| 1,681,860 |
| 1,726,551 |
| 6,834,130 |
|
| 2012 | 1,515,255 |
| 1,625,313 |
| 1,663,695 |
| 1,650,495 |
| 6,454,759 |
|
| 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 |
| 2014 | 818,376 |
| 789,483 |
| 794,505 |
| 785,669 |
| 3,188,031 |
|
| 2013 | 1,203,179 |
| 1,171,423 |
| 1,200,791 |
| 1,212,651 |
| 4,788,045 |
|
| 2012 | 1,079,092 |
| 1,086,543 |
| 1,097,541 |
| 1,109,695 |
| 4,372,871 |
|
| 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 |
| 2014 | 425,243 |
| 428,171 |
| 491,372 |
| 521,726 |
| 1,866,512 |
|
| 2013 | 341,309 |
| 365,778 |
| 391,900 |
| 401,333 |
| 1,500,321 |
|
| 2012 | 310,234 |
| 314,638 |
| 347,796 |
| 340,431 |
| 1,313,100 |
|
| 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 |
|
| Perjeta | Q1 | Q2 | Q3 | Q4 | Total |
| 2014 | 158,809 |
| 206,333 |
| 242,700 |
| 275,311 |
| 883,153 |
|
| 2013 | 34,008 |
| 55,076 |
| 66,353 |
| 87,949 |
| 243,386 |
|
| 2012 | — |
| — |
| 5,080 |
| 25,000 |
| 30,079 |
|
PDL BioPharma, Inc.
Q4-Year End 2014
February 23, 2015
|
| | | | | | | | | | |
| Queen et al. Sales Revenue |
| Reported Licensee Net Sales Revenue by Product ($ in 000's) * |
| Kadcyla | Q1 | Q2 | Q3 | Q4 | Total |
| 2014 | 91,031 |
| 117,212 |
| 143,414 |
| 163,028 |
| 514,685 |
|
| 2013 | — |
| 21,459 |
| 73,626 |
| 85,906 |
| 180,991 |
|
| Tysabri | Q1 | Q2 | Q3 | Q4 | Total |
| 2014 | 428,561 |
| 442,492 |
| 534,946 |
| 500,511 |
| 1,906,510 |
|
| 2013 | 434,677 |
| 451,358 |
| 387,407 |
| 403,334 |
| 1,676,776 |
|
| 2012 | 374,430 |
| 401,743 |
| 391,623 |
| 408,711 |
| 1,576,508 |
|
| 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 |
| 2014 | 114,865 |
| 124,736 |
| 147,285 |
| 180,197 |
| 567,082 |
|
| 2013 | 87,703 |
| 91,374 |
| 97,961 |
| 124,815 |
| 401,852 |
|
| 2012 | 56,662 |
| 66,624 |
| 71,505 |
| 82,053 |
| 276,843 |
|
| 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 |
|
| Gazyva | Q1 | Q2 | Q3 | Q4 | Total |
| 2014 | 3,095 |
| 8,697 |
| 11,531 |
| 13,428 |
| 36,750 |
|
| Entyvio | Q1 | Q2 | Q3 | Q4 | Total |
| 2014 | — |
| — |
| 5,347 |
| 58,500 |
| 63,848 |
|
| * As reported to PDL by its licensee. Dates in above charts reflect when PDL receives |
| royalties on sales. Sales occurred in the quarter prior to the dates in the above charts. |
| Totals may not sum due to rounding. | |
