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:5/26/2017)... Linda, Ca (PRWEB) , ... May 25, 2017 , ... ... for tech innovators, engineers, and scientists from around the world, is announcing a new ... is open to both undergraduate and graduate students, 17 years or older, pursuing a ...
(Date:5/24/2017)... ... May 23, 2017 , ... ... quality relocatable and permanent modular buildings, announced the launch of the Mobile ... office design characteristics to help support on-site teamwork and collaboration. , The ...
(Date:5/24/2017)... As Ebola resurfaces in the Democratic ... suspected cases now reported, a new analysis of the Ebola ... correlation between the 2014 and 2017 outbreaks of the disease.  ... 2012-13, which preceded the 2014 outbreak. An analysis of the ... counts in 2014-15, which again precedes the current outbreak in ...
(Date:5/23/2017)... ... May 23, 2017 , ... ... human cardiovascular cells for research and the development of cardiac regeneration therapies. ... generate large numbers of cardiomyocytes (hPSC-CMs). Due to varying differentiation efficiencies, further ...
Breaking Biology Technology:
(Date:3/24/2017)... The Controller General of Immigration from Maldives Mr. Mohamed Anwar ... prestigious international IAIR Award for the most innovative high security ePassport and ... ... Maldives Immigration Controller General, Mr. Mohamed ... the right) have received the IAIR award for the "Most innovative high ...
(Date:3/22/2017)... 21, 2017   Neurotechnology , a provider ... today announced the release of the SentiVeillance ... improved facial recognition using up to 10 surveillance, ... computer. The new version uses deep neural-network-based facial ... it utilizes a Graphing Processing Unit (GPU) for ...
(Date:3/20/2017)... Pa. , March 20, 2017 PMD ... 2.0 personal spirometer and Wellness Management System (WMS), a ... Founded in 2010, PMD Healthcare is a Medical ... with a mission dedicated to creating innovative solutions that ... life. With that intent focus, PMD developed the first ...
Breaking Biology News(10 mins):