PDL, Roche duke it out over royalties for Avastin, Herceptin

Even friends have disputes over money sometimes. That's what's happening with PDL BioPharma and Roche's ($RHHBY) Genentech: PDL wants to take Genentech to arbitration for underpaying royalties, the AP reports. PDL, which helped develop several Genentech-marketed drugs, including cancer treatments Avastin and Herceptin, says Genentech has been underpaying since 2007, but the Swiss company is defending itself and negating the claims. PDL also says Genentech is not cooperating with efforts to have its books and records inspected in search of inaccurate payments. Story

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