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PDL BioPharma Announces Second Quarter 2009 Financial Results
Date:7/30/2009

PDL expects its general and administrative expenses for 2009 to range from $20 to $22 million, of which approximately 50 percent is related to legal expense, patent defense and other professional fees. Net income after taxes for 2009 including MedImmune is projected in the range of $200 to $215 million and cash generated in 2009 is expected to be in the range of $285 to $300 million. PDL had previously guided that net income would be in the range of $185 to $200 million and cash generated in 2009 to be in the range of $260 to $280 million.

Conference Call Details

To access the live conference call via phone, please dial (866) 510-0707 from the United States and Canada or (617) 597-5376 internationally. The conference ID is 27369299. 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 August 6, and may be accessed by dialing (888) 286-8010 from the United States and Canada or (617) 801-6888 internationally. The replay passcode is 58547023.

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, Inc.

PDL BioPharma 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
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SOURCE PDL BioPharma, Inc.
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