Exhibit 99.3
PDL BioPharma, Inc.
Q2 2016
August 4, 2016
Following are some of the key points regarding PDL’s second quarter 2016 financial and business results.
Highlighted Financial Results from Q2 2016
| |
| • | Total revenues of $21.0 million and $124.2 million for the three and six months ended June 30, 2016, respectively. |
| |
| • | GAAP diluted EPS of $0.03 and $0.37 for the three and six months ended June 30, 2016, respectively. |
| |
| • | GAAP net income of $4.1 million and $60.0 million for the three and six months ended June 30, 2016, respectively. |
| |
| • | Non-GAAP diluted earnings per share (EPS) of $0.09 and $0.61 for the three and six months ended June 30, 2016, respectively. |
| |
| • | Non-GAAP net income of $15.1 million and $100.2 million for the three and six months ended June 30, 2016, respectively. |
The largest component of the difference in non-GAAP measure compared to GAAP is the exclusion of mark-to-market reduction in fair value of our investments in royalty rights. A full reconciliation of all components of the GAAP to non-GAAP quarterly financial results can be found in Table 4 of the August 4th press release.
Updates on Approved Royalty Bearing Products Related to Queen et al. Patents
In the second quarter of 2016, royalties from PDL's licensees to the Queen et al. patents were $14.2 million, which consisted of royalties earned on sales of Tysabri® under a license agreement associated with the Queen et al. patents. Under the terms of the legal settlement between Genentech and PDL, the first quarter of 2016 was the last period for which Genentech paid royalties to PDL for Avastin®, Herceptin®, Xolair®, Kadcyla® and Perjeta®. Royalty payments for Avastin®, Herceptin®, Xolair®, Kadcyla® and Perjeta® accounted for 86 percent of the $121.5 million Queen et al. royalty revenue recognized in the first quarter of 2016, with no revenue in the second quarter.
Other products from the Queen et al. patent licenses entitle us to royalties following the expiration of our patents with respect to sales of licensed product manufactured prior to patent expiry in jurisdictions providing patent protection licenses. The amount of royalties we are due for product manufactured prior to patent expiry but sold after patent expiry is uncertain.
Updates on Income Generating Assets
Solanezumab (Unapproved royalty-bearing product relating to Queen et al. patents)
| |
| • | Completed enrollment and continuing patient follow up on Phase 3 clinical trial. |
| |
| • | Top line data from Phase 3 trial in mild Alzheimer’s disease expected in 4Q16. Lilly would file for product approval in 1H17 if data are positive. |
| |
| • | PDL has a 2% know-how royalty on solanezumab which runs for 12.5 years from the date of its first sale. |
Wellstat Diagnostics, LLC
| |
| • | On July 29, 2016, the Supreme Court of New York issued its Memorandum of Decision granting the Company’s motion for summary judgment and denying the Wellstat Diagnostics Guarantors’ cross-motion for summary judgment. The Supreme Court of New York held that the Wellstat Diagnostics Guarantors are liable for all “Obligations” owed by Wellstat Diagnostics to PDL. It did not set a specific dollar amount due, but ordered that a judicial hearing officer or special referee be designated to determine the amount of the Obligations owing, and awarded PDL its attorneys’ fees and costs in an amount to be determined. The Supreme Court of New York has |
PDL BioPharma, Inc.
Q2 2016
August 4, 2016
also set a hearing on August 23, 2016 to consider the implication of the status quo ante instruction on certain actions of the Wellstat Diagnostics Guarantors and whether to issue a writ of attachment.
| |
| • | On August 2, 2016 the Delaware Bankruptcy Court announced its decision to grant PDL’s motion to dismiss the chapter 11 petition with prejudice as a bad faith filing, which should result in the receivership sale in the Maryland Circuit Court proceeding promptly. |
Noden Transactions
| |
| • | On July 1, 2016, Noden Pharma DAC, a newly-formed company organized under the laws of Irelandpurchased from Novartis the exclusive worldwide rights to manufacture, market, and sell the branded prescription medicine product sold under the name Tekturna® and Tekturna HCT® in the United States and Rasilez® and Rasilez HCT® in the rest of the world (collectively the "Noden Products") and certain related assets and will assume certain related liabilities in exchange for the following cash commitments: $110.0 million paid on July 1, 2016, the closing date of the acquisition, $89.0 million payable on the first anniversary of the closing date and up to $95.0 million of additional cash consideration contingent on achievement of sales targets and the date of the launch of a generic drug containing the pharmaceutical ingredient aliskiren. |
| |
| • | On July 1, 2016, PDL entered into an investment and stockholders’ agreement with Noden Pharma DAC and an affiliate and certain members of Noden’s management. PDL acquired an approximately 99% equity stake and obtained the majority voting power of Noden, for a total cash consideration of $75.0 million. It is expected that PDL’s equity ownership stake will ultimately be reduced to 88% upon the vesting of shares granted to Noden's noncontrolling interest holders. |
| |
| • | In addition to the initial $75.0 million cash equity contribution, PDL will make the following additional equity contributions to Noden and an affiliate: $32 million (and up to $89 million if Noden is unable to obtain debt financing) on July 1, 2017 to fund the anniversary payment and at least $38.0 million to fund a portion of certain milestone payments under the Noden Purchase Agreement, subject to their occurrence. |
| |
| • | During the three and six month periods ended June 30, 2016, we recorded approximately $3.0 million in acquisition-related costs in connection with the Noden transactions. Noden is expected to reimburse PDL as part of the intercompany arrangement for all acquisition-related costs on or before December 31, 2016. |
| |
| • | PDL has not yet finalized the purchase price allocation for this acquisition. We will include additional information about the fair value of acquired assets and assumed liabilities of the Noden Products in its Quarterly Report on Form 10-Q for the period ending September 30, 2016 and in our Form 8-K/A due to be filed within 71 days of the filing date of the Form 8-K with respect to the closing of the Noden transaction that was filed on July 6, 2016. |
| |
| • | On July 1, 2016, Noden began earning profits on the sale of Tekturna, Tekturna HCT, Rasilez and Rasilez HCT. During the transitional service period we expect to receive monthly reporting from Novartis one month in arrears, that is, generally after Novartis has sold the Noden Products. We recognize revenue when we can reliably estimate such amounts and collectability is reasonably assured. |
Kybella Royalty Agreement
| |
| • | On July 8, 2016, PDL entered into a royalty purchase agreement with an individual, whereby the Company acquired that individual's rights to receive certain royalties on sales of Kybella® by Allergan, in exchange for a $9.5 million cash payment and up to $1.0 million in future milestone payments based upon product sales targets. |
Depomed, Inc.
| |
| • | We have reduced the fair market value of the Depomed royalty rights year to date 2016 by $55.3 million, primarily due to a reduction in Glumetza royalties received and a reduction in future cash flows due to lower projected demand data, greater erosion of market share due to the launch of a generic, and higher gross-to-net adjustments for Glumetza. As you will recall, Glumetza was marketed by Salix until its acquisition by Valeant. Because we have limited information from Valeant, we employ an independent third party consulting group to assist us in our quarterly evaluation of Glumetza and the other Depomed products on which we receive or will receive royalties. In February 2016, a generic competitor to Glumetza launched as expected. The impact of the generic on pricing and gross-to-net has been greater than typical generic models would predict. |
| |
| • | PDL received a $6 million milestone for FDA approval of Jentadueto® XR in the second quarter of 2016. Jentadueto XR is the third approved product for which we will receive royalties from our Depomed royalty rights assets. We expect to begin receiving royalties on Jentadueto XR in the third quarter of 2016. |
PDL BioPharma, Inc.
Q2 2016
August 4, 2016
| |
| • | Since PDL’s acquisition of the Depomed royalty rights in October 2013, PDL has received $178.5 million in net cash payments. |
| |
| • | PDL and Depomed are in the process of conducting a royalty audit on Glumetza royalties owed by Valeant. |
Direct Flow Medical, Inc.
| |
| • | On July 15, 2016, PDL and Direct Flow Medical entered into the fifth Amendment and Limited Waiver to the Credit Agreement. PDL funded an additional $1.5 million to Direct Flow Medical in the form of a note with substantially the same interest and payment terms as the existing loans and a conversion feature whereby the $1.5 million loan would convert into equity of Direct Flow Medical upon the occurrence of certain events. |
| |
| • | On February 26, 2016, PDL and Direct Flow Medical entered into the fourth Amendment to the Credit Agreement that converted a $5.0 million short-term secured promissory note into a loan under the credit agreement with substantially the same interest and payment terms as the existing loans, added a conversion feature whereby the $5.0 million loan would convert into equity of Direct Flow Medical upon the occurrence of certain events, and provided for a second $5.0 million convertible loan tranche commitment, to be funded at the option of PDL. The commitment for the second tranche was not funded and has since expired. |
| |
| • | PDL has agreed to waive the liquidity covenant and delay the timing of the unpaid interest payments until September 30, 2016, and Direct Flow Medical agreed to issue to PDL a specified amount of warrants to purchase shares of convertible preferred stock on the first day of each month for the duration of the waiver period at an exercise price of $0.01 per share. |
| |
| • | Direct Flow Medical is is currently attempting to raise equity. |
kaleo, Inc.
| |
| • | On February 18, 2016, PDL was advised that Sanofi and kaléo will terminate their license and development agreement later this year. |
| |
| • | On March 31, 2016, PDL was informed by kaléo that the license and development agreement was terminated and that all U.S. and Canadian commercial and manufacturing rights to Auvi-Q ® and Allerject ® had been returned to kaléo. All manufacturing equipment had also been returned to kaléo, and kaléo intends to evaluate the timing and options for bringing Auvi-Q and Allerject ® back to the market. |
| |
| • | PDL entered into a secured note purchase agreement with Accel 300, a wholly-owned subsidiary of kaléo, which as of June 30, 2016, had a principal balance of $144.8 million due to PDL. Interest payments due have been paid on time and in full through the second quarter of 2016, and kaléo has indicated that it intends to make payments due to PDL under the note agreement until Auvi-Q is returned to the market. |
ARIAD Pharmaceuticals, Inc.
| |
| • | In May of 2016, PDL and ARIAD agreed to amend the ARIAD Royalty Agreement, as a result of ARIAD’s share purchase agreement with Incyte Corporation (Incyte), to include royalties on net sales of Iclusig® (ponatinib) made by Incyte once it takes over ARIAD’s commercialization operations with respect to Iclusig in the European Union and certain other countries. In addition, the Company and ARIAD agreed to restructure future funding under the Royalty Agreement such that ARIAD’s option to draw up to an additional $100 million between January and July of 2016 was reduced to a maximum amount of up to an additional $40 million, which can be drawn at ARIAD’s option in July of 2017. |
| |
| • | On July 28, 2016, PDL funded the second tranche of $50 million to ARIAD. This agreement was entered into in July 2015, in exchange for royalties on the net revenues of Iclusig. As a result of the second tranche payment, under the terms of the ARIAD Royalty Agreement, PDL’s royalty percentage will increase to 5.0% of the U.S. and European net revenues of Iclusig and 5.0% of the payments ARIAD receives elsewhere in the world until December 31, 2018. Beginning January 1, 2019 and thereafter, the royalty rate will increase to 6.5% in all jurisdictions and continue until December 31, 2033, subject to a put option of PDL upon the occurrence of specified events and a call option of ARIAD. |
Forward-looking Statements
This document contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Each of these forward-looking
PDL BioPharma, Inc.
Q2 2016
August 4, 2016
statements involves risks and uncertainties. Actual results may differ materially from those, express or implied, in these forward-looking statements. Important factors that could impair the value of the Company's royalty assets, restrict or impede the ability of the Company to invest in new income generating assets and limit the Company's ability to pay dividends are disclosed in the risk factors contained in the Company's Annual Report on Form 10-K, as updated by subsequent quarterly reports filed with the Securities and Exchange Commission, as updated by subsequent filings. All forward-looking statements are expressly qualified in their entirety by such factors. We do not undertake any duty to update any forward looking statement except as required by law.
PDL BioPharma, Inc.
Q2 2016
August 4, 2016
|
| | | | | | | | | | |
| Queen et al. Royalties |
| Royalty Revenue by Product ($ in 000's) * |
| Avastin | Q1 | Q2 | Q3 | Q4 | Total |
| 2016 | 38,825 |
| — |
| — |
| — |
| 38,825 |
|
| 2015 | 38,809 |
| 38,447 |
| 39,284 |
| 39,987 |
| 156,527 |
|
| 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 |
| 2016 | 38,726 |
| — |
| — |
| — |
| 38,726 |
|
| 2015 | 37,875 |
| 39,476 |
| 39,457 |
| 38,897 |
| 155,704 |
|
| 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 |
| 2016 | — |
| — |
| — |
| — |
| — |
|
| 2015 | 15,920 |
| — |
| — |
| — |
| 15,920 |
|
| 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 |
| 2016 | 13,030 |
| — |
| — |
| — |
| 13,030 |
|
| 2015 | 10,971 |
| 11,075 |
| 12,407 |
| 12,749 |
| 47,202 |
|
| 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 |
|
PDL BioPharma, Inc.
Q2 2016
August 4, 2016
|
| | | | | | | | | | |
| Queen et al. Royalties |
| Royalty Revenue by Product ($ in 000's) * |
| Perjeta | Q1 | Q2 | Q3 | Q4 | Total |
| 2016 | 9,320 |
| — |
| — |
| — |
| 9,320 |
|
| 2015 | 6,596 |
| 7,419 |
| 7,898 |
| 8,753 |
| 30,666 |
|
| 2014 | 3,375 |
| 4,385 |
| 5,157 |
| 5,850 |
| 18,767 |
|
| 2013 | 340 |
| 1,414 |
| 748 |
| 879 |
| 3,381 |
|
| 2012 | — |
| — |
| 58 |
| 250 |
| 308 |
|
| Kadcyla | Q1 | Q2 | Q3 | Q4 | Total |
| 2016 | 4,782 |
| — |
| — |
| — |
| 4,782 |
|
| 2015 | 3,852 |
| 4,177 |
| 4,319 |
| 4,535 |
| 16,883 |
|
| 2014 | 1,934 |
| 2,491 |
| 3,048 |
| 3,464 |
| 10,937 |
|
| 2013 | — |
| 551 |
| 830 |
| 859 |
| 2,240 |
|
| Tysabri | Q1 | Q2 | Q3 | Q4 | Total |
| 2016 | 13,970 |
| 14,232 |
| — |
| — |
| 28,202 |
|
| 2015 | 14,385 |
| 13,614 |
| 13,557 |
| 14,031 |
| 55,587 |
|
| 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 |
| 2016 | — |
| — |
| — |
| — |
| — |
|
| 2015 | 4,990 |
| — |
| — |
| — |
| 4,990 |
|
| 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 |
| 2016 | — |
| — |
| — |
| — |
| — |
|
| 2015 | 313 |
| — |
| — |
| — |
| 313 |
|
| 2014 | 51 |
| 283 |
| 325 |
| 436 |
| 1,094 |
|
| Entyvio | Q1 | Q2 | Q3 | Q4 | Total |
| 2016 | — |
| — |
| — |
| — |
| — |
|
| 2015 | 2,223 |
| — |
| — |
| — |
| 2,223 |
|
| 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 $5 million payment received from Genentech in Q1 2014 for a retroactive settlement payment from 2013. |
PDL BioPharma, Inc.
Q2 2016
August 4, 2016
|
| | | | | | | | | | |
| Queen et al. Sales Revenue |
| Reported Licensee Net Sales Revenue by Product ($ in 000's) * |
| Avastin | Q1 | Q2 | Q3 | Q4 | Total |
| 2016 | 1,827,081 |
| — |
| — |
| — |
| 1,827,081 |
|
| 2015 | 1,826,289 |
| 1,809,286 |
| 1,848,655 |
| 1,881,743 |
| 7,365,972 |
|
| 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 |
| 2016 | 1,822,407 |
| — |
| — |
| — |
| 1,822,407 |
|
| 2015 | 1,789,404 |
| 1,857,696 |
| 1,856,803 |
| 1,830,424 |
| 7,334,326 |
|
| 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 |
| 2016 | — |
| — |
| — |
| — |
| — |
|
| 2015 | 749,182 |
| — |
| — |
| — |
| 749,182 |
|
| 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 |
| 2016 | 613,160 |
| — |
| — |
| — |
| 613,160 |
|
| 2015 | 523,340 |
| 521,192 |
| 583,856 |
| 599,945 |
| 2,228,333 |
|
| 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 |
|
PDL BioPharma, Inc.
Q2 2016
August 4, 2016
|
| | | | | | | | | | |
| Queen et al. Sales Revenue |
| Reported Licensee Net Sales Revenue by Product ($ in 000's) * |
| Perjeta | Q1 | Q2 | Q3 | Q4 | Total |
| 2016 | 438,580 |
| — |
| — |
| — |
| 438,580 |
|
| 2015 | 310,410 |
| 349,125 |
| 371,668 |
| 411,912 |
| 1,443,115 |
|
| 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 |
|
| Kadcyla | Q1 | Q2 | Q3 | Q4 | Total |
| 2016 | 25,018 |
| — |
| — |
| — |
| 25,018 |
|
| 2015 | 181,275 |
| 196,556 |
| 203,258 |
| 213,404 |
| 794,493 |
|
| 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 |
| 2016 | 465,647 |
| 474,379 |
| — |
| — |
| 940,026 |
|
| 2015 | 479,526 |
| 453,786 |
| 451,898 |
| 467,735 |
| 1,852,945 |
|
| 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 |
| 2016 | — |
| — |
| — |
| — |
| — |
|
| 2015 | 166,338 |
| — |
| — |
| — |
| 166,338 |
|
| 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 |
| 2016 | — |
| — |
| — |
| — |
| — |
|
| 2015 | 9,627 |
| — |
| — |
| — |
| 9,627 |
|
| 2014 | 3,095 |
| 8,697 |
| 11,531 |
| 13,428 |
| 36,750 |
|
| Entyvio | Q1 | Q2 | Q3 | Q4 | Total |
| 2016 | — |
| — |
| — |
| — |
| — |
|
| 2015 | 59,287 |
| — |
| — |
| — |
| 59,287 |
|
| 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. | |
