Navigation Links
PDL BioPharma Announces Special Dividend Payment
Date:11/12/2009

INCLINE VILLAGE, Nev., Nov. 12 /PRNewswire-FirstCall/ -- PDL BioPharma, Inc. (PDL) (Nasdaq: PDLI) today announced that it will pay a $200 million special dividend to stockholders, with part of the proceeds from the $300 million securitization transaction completed on November 2, 2009. All stockholders owning shares of PDL on December 1, 2009 will be paid a special dividend on December 15, 2009. As PDL has a significant amount of convertible securities outstanding, the amount of the dividend on a per share basis will be announced the day after the record date. The remaining net proceeds of $85 million will be used for working capital and other corporate purposes.

About PDL BioPharma

PDL pioneered the humanization of monoclonal antibodies and, by doing so, enabled the discovery of a new generation of targeted treatments for cancer and immunologic diseases. PDL is focused on maximizing the value of its antibody humanization patents and related assets. The company receives royalties on sales of a number of humanized antibody products marketed today and also may receive royalty payments on additional humanized antibody products launched before patent expiry in late 2014. For more information, please visit www.pdl.com.

NOTE: PDL BioPharma and the PDL BioPharma logo are considered trademarks of PDL BioPharma, Inc.

Forward-looking Statements

The foregoing statements regarding PDL's intentions with respect to the cash special dividend payment described above are forward-looking statements under the Private Securities Litigation Reform Act of 1995, and actual results could vary materially from the statements made. PDL's ability to pay the special dividend described above successfully is subject to various risks, many of which are outside its control, including prevailing conditions in the capital markets, the continued strength of its royalty assets and other risks and uncertainties as detailed from time to time in the reports filed by PDL with the Securities and Exchange Commission.

SOURCE PDL BioPharma, Inc.


'/>"/>
SOURCE PDL BioPharma, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Helix BioPharma to Present at Merriman Curhan Fords Investor Summit 2009 on November 10th
2. Leaders in Biopharma and Molecular Diagnostics to Discuss Key Issues and Opportunities in Forming Partnerships at 2010 Personalized Medicine Partnerships Conference
3. PDL BioPharma Announces Pricing of $300,000,000 Securitization Transaction
4. PDL BioPharma Reschedules Third Quarter 2009 Financial Results Conference Call for 8:30 a.m. ET on October 28, 2009
5. PDL BioPharma to Present at Oppenheimer & Co. 20th Annual Healthcare Conference on November 4, 2009
6. Microbix And Hunan Biopharmaceutical To Build Asias Largest Influenza Vaccine Facility
7. Sinobiopharma Presents Highlights from Unaudited First Quarter Financial Results for the 3 Month Period Ended August 31, 2009
8. Deloitte Recap Launches New Series of Biopharmaceutical Business Intelligence Tools
9. United States Securities and Exchange Commission Declares Effective Registration Statement for NeoStems Acquisition of China Biopharmaceuticals Holdings, Inc. and a Controlling Interest in Leading Chinese Pharmaceutical Company; Meeting of Each Com
10. Regado Biosciences To Present at the 2009 Japan Biopharma Partnering Conference on October 6, 2009
11. DOR BioPharma Announces Corporate Name Change to Soligenix and Begins Trading Under New Ticker Symbol SNGX
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/22/2017)... ... February 22, 2017 , ... Park Systems , ... AFM Luncheon for all SPIE attendees and Park customers on Feb. ... block from the San Jose Convention Center. The luncheon will feature a talk ...
(Date:2/22/2017)... -- Scientists propose in Nature blocking a ... and maybe other lysosomal storage diseases as a possible ... therapies. An international research team led by ... included investigators from the University of Lübeck in ... The study was conducted in mouse models of lysosomal ...
(Date:2/22/2017)... ... February 22, 2017 , ... ... of precision treatments for neurodegenerative diseases, today announced it has issued a scientific ... This is one of a series of commentaries from ProMIS’s scientific team offering ...
(Date:2/22/2017)... ... February 22, 2017 , ... LabRoots , the ... from around the world, is pleased to announce the launch of a new scholarship ... mathematics (STEM) fields. , This merit-based scholarship is open to all high school seniors, ...
Breaking Biology Technology:
(Date:2/21/2017)... Ore. , Feb. 22, 2017  IBM (NYSE: ... (Avamere Health Services, Infinity Rehab, Signature Hospice, Home Health, ... will apply the power of IBM cognitive computing to ... centers. By analyzing data streaming from sensors in senior ... and environmental conditions, and obtain deeper learnings into the ...
(Date:2/16/2017)... FRANCISCO , Feb. 16, 2017  Genos, ... today announced that it has received Laboratory Accreditation ... CAP Accreditation is presented to laboratories that meet ... who demonstrate scientifically rigorous processes. "Genos ... excellence in laboratory practices. We,re honored to be ...
(Date:2/13/2017)...  RSA Conference -- RSA, a Dell Technologies business, ... enhance fraud detection and investigation across digital environments ... & Risk Intelligence Suite. The new platform is ... from internal and external sources as well as ... from targeted cybercrime attacks. "Fraudsters are ...
Breaking Biology News(10 mins):