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Otsuka Pharmaceutical and PDL BioPharma Close Sale of IV Busulfex
Date:3/10/2008

PRINCETON, N.J., TOKYO, and REDWOOD CITY, Calif., March 10 /PRNewswire-FirstCall/ -- Otsuka Pharmaceutical Co., Ltd. (OPC) and PDL BioPharma, Inc. (Nasdaq: PDLI) today announced the closing of the previously announced transaction under which Otsuka has acquired PDL's rights to IV Busulfex(R) (busulfan), including trademarks, patents, intellectual property and related assets, for $200 million plus inventory value.

IV Busulfex is an oncologic product marketed and sold in the United States (U.S.) and Canada, and through distributors in a number of other countries.

Now that this transaction has closed, OPC will oversee the outsourced manufacturing of the product, while its U.S. affiliate, Otsuka Pharmaceutical Development & Commercialization, Inc. (OPDC), will investigate clinical studies for potential new indications for IV Busulfex. Another OPC affiliate, Otsuka America Pharmaceutical, Inc. (OAPI), will market the product for its current indication in the United States. OPDC was established in 2007 and OAPI was established in 1989 by Otsuka America, Inc. (OAI). Both OPDC and OAPI are wholly owned by OAI, which is the holding company for OPC's interests in the U.S. OAI is wholly owned by OPC.

INDICATION and IMPORTANT SAFETY INFORMATION

INDICATION:

IV Busulfex (busulfan) is indicated for use in combination with cyclophosphamide as a conditioning regimen prior to allogeneic hematopoietic progenitor cell transplantation (also referred to as blood or bone marrow transplantation or BMT) for chronic myelogenous leukemia (CML).

IMPORTANT SAFETY INFORMATION:

WARNING: Busulfex (busulfan) Injection is a potent cytotoxic drug that causes profound myelosuppression at the recommended dosage. It should be a
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SOURCE Otsuka Pharmaceutical Co., Ltd., and PDL BioPharma, Inc.
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