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PDL BioPharma Announces First Quarter 2009 Financial Results
Date:5/7/2009

ties from MedImmune are not included subsequent to the first quarter of 2009 due to ongoing legal activities as discussed above. Revenue growth expectations are primarily driven by increases in product sales of Avastin, Herceptin, Lucentis and Tysabri.

PDL continues to expect its general and administrative expenses for 2009 to range from $12 million to $15 million, of which approximately 50 percent may be related to legal expense, patent defense and other professional fees. Net income after taxes for 2009 continues to be projected in the range of $185 to $200 million and cash generated in 2009 still is expected to be in the range of $260 to $280 million.

Conference Call Details

To access the live conference call today, May 7, 2009 at 4:30 p.m. Eastern Time via phone, please dial (877) 361-8830 from the United States and Canada or (706) 679-8297 internationally. The conference ID is 97783926. Please dial in approximately ten minutes prior to the start of the call. A telephone replay will be available beginning approximately one hour after the call through May 14, 2009, and may be accessed by dialing (800) 642-1687 from the United States and Canada or (706) 645-9291 internationally. The replay passcode is 97783926.

To access the live and subsequently archived webcast of the conference call, go to the company's Web site at http://www.pdl.com and click "Investors." Please connect to the web site at least 15 minutes prior to the call to allow for any software download that may be necessary.

About PDL BioPharma

PDL BioPharma, Inc. pioneered the humanization of monoclonal antibodies and, by doing so, enabled the discovery of a new generation of targeted treatments for cancer and autoimmune diseases. PDL is focused on maximizing the value of our antibody humanization patents and related assets. PDL receives royalties on sales
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SOURCE PDL BioPharma, Inc.
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