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:2/5/2016)... -- ATCC, the premier global biological materials resource and ... life science researchers that are working to address the ... CDC website . --> CDC website ... single-stranded RNA virus of the Flaviviridae family, genus Flavivirus, ... Viruses. Zika virus is transmitted to humans primarily through ...
(Date:2/5/2016)... DIEGO , Feb. 5, 2016 On ... region,s trusted information source for community, health and disaster ... Diego) will integrate to enhance care coordination and ... to the services they need and to better connect ... improve care.   San Diego ...
(Date:2/5/2016)... Feb. 5, 2016 Australian-US drug discovery and development ... the appointment of a new Chairman, Mr John O,Connor ... effective immediately. James Garner , has also ... and former Acting CEO, Mr Iain Ross , will ... --> James Garner , has also been formally ...
(Date:2/4/2016)... , February 4, 2016 - New FDA action ... - New FDA action date of July 22, ... July 22, 2016   - ... in the past decade indicated for the treatment of signs and symptoms of ... has the potential to be the only product approved in the U.S. in ...
Breaking Biology Technology:
(Date:2/2/2016)... 2016 Checkpoint Inhibitors for Cancer – ... Are you interested in the future of cancer ... inhibitors. Visiongain,s report gives those predictions to 2026 ... level. Avoid falling behind in data or ... revenues those emerging cancer therapies can achieve. There ...
(Date:2/2/2016)... , Feb. 2, 2016   Parabon NanoLabs ... the U.S. Army Research Office and the Defense ... and sensitivity of the company,s Snapshot Kinship ... Mission and, more generally, defense-related DNA forensics.  Although ... capabilities (predicting appearance and ancestry from DNA evidence), ...
(Date:2/1/2016)... 2016 Rising sales of consumer ... touchfree intuitive gesture control market size ... of consumer electronics coupled with new technological advancements to ... size through 2020   --> ... technological advancements to drive global touchfree intuitive gesture control ...
Breaking Biology News(10 mins):