- PDL BioPharma (NASDAQ:PDLI) reports that it received $133.7M in cash payments in November including:
- $14.0M royalty payment from Biogen (BIIB).
- $104.9M royalty payment from Roche's (OTCQX:RHHBY) Genentech unit.
- $5.3M royalty payment from Valeant Pharmaceuticals (VRX) related to Glumetza.
- $9.5M payment from kaleo subsidiary Accel 300, LLC, for note payments.
- For comparison purposes, PDL's total Q3 revenues were $124.6M, down 24% yoy due primarily to lower Depomed (DEPO) royalty rights cash proceeds (none received) related to Valeant's commercialization of Glumetza, decreased interest revenues due to the early payoff of the AxoGen and Durata notes receivables and decreased Actemra royalties as a result of the conclusion of the license agreement.