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Development revenue for the quarter was $333.8 million (+1%). Discovery sciences revenue was $7.7 million, compared to $0.2 million in 2Q09.
July 28, 2010
By: Tim Wright
PPD 2Q 2Q Revenues: $369.9 million (+4%) 2Q Earnings: $21.0 million (-64%) YTD Revenues: $716.7 million (flat) YTD Earnings: $38.2 million (-62%) Comments: Development revenue for the quarter was $333.8 million (+1%). Discovery sciences revenue was $7.7 million, compared to $0.2 million in 2Q09. Revenue for this segment included a $7.5 million milestone payment from Takeda related to pricing approvals for Nesina (alogliptin) in Japan. Gross authorizations for the quarter totaled $610.5 million. Backlog at June 30, 2010, was $3.2 billion. Contract cancellations and adjustments were $145.3 million.
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