PDL BioPharma (PDLI) to Receive Royalties from Perjeta Sales (RHHBY)

PDL BioPharma, Inc. (PDL) (Nasdaq: PDLI) reports that Roche's (OTCBB: RHHBY) Genentech has notified PDL that Pertuzumab, brand name Perjeta, is a licensed product. PDL will receive royalties on sales of Perjeta in the quarter following the first quarter of Perjeta sales in accordance with Genentech's license agreements with PDL. Based on Genentech's public statements, PDL anticipates Perjeta will enter the market later this month.

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