Navigation Links
PDL BioPharma Announces Closing of $300,000,000 Securitization Transaction
Date:11/2/2009

INCLINE VILLAGE, Nev., Nov. 2 /PRNewswire-FirstCall/ -- PDL BioPharma, Inc. (PDL) (Nasdaq: PDLI) today announced that it closed on its previously disclosed $300 million securitization transaction intended to monetize certain of its antibody humanization patents and royalties. Morgan Stanley & Co. Incorporated acted as sole initial purchaser for the securitization.

Under the terms of the securitization transaction, PDL sold to QHP Royalty Sub LLC ("QHP"), a newly-formed wholly-owned subsidiary of PDL, certain rights under its non-exclusive license agreements with Genentech, Inc., a wholly-owned subsidiary of Roche Holding, Ltd., including the right to receive 60% of the royalties from sales of Avastin® (Bevacizumab), Herceptin® (Trastuzumab), Lucentis® (Ranibizumab) and Xolair® (Omalizumab) and from sales of future products, if any, for which Genentech may take a license under the related agreements with Genentech.

QHP issued $300 million in aggregate principal amount of its QHP PhaRMA(SM) Senior Secured Notes due 2015 (the "Notes") in a non-registered offering pursuant to Rule 144A. The Notes bear an interest rate of 10.25%. The royalties and other payments, if any, that QHP will be entitled to receive under the agreements with Genentech, together with any funds made available from certain accounts of QHP, will be the sole source of payment of principal of, and interest and premium on, the Notes, which are secured by a continuing security interest granted by QHP in its rights to receive payments under such agreements and all of its other assets and a pledge by PDL of its equity ownership interest in QHP. The Notes may be redeemed at any time prior to maturity, in whole or in part, at the option of QHP at a make-whole redemption price.

PDL intends to use a sizable portion of the net offer
'/>"/>

SOURCE PDL BioPharma, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2

Related medicine technology :

1. Lilly CEO Lechleiter Calls for Repair of the Engine of Biopharma Innovation
2. NeoStem Acquires China Biopharmaceuticals Holdings, Inc.; Obtains Controlling Interest in Profitable Leading Chinese Pharmaceutical Company
3. Helix BioPharma Corp. Announces Fiscal 2009 Results
4. China Biopharmaceuticals Holdings, Inc. Shareholders Overwhelmingly Support Merger with NeoStem, Inc., a NYSE AMEX Listed Company Trading Under Symbol NBS
5. Keryx Biopharmaceuticals, Inc. Announces Upcoming Poster Presentation of Zerenex (ferric citrate) for the Treatment of Hyperphosphatemia at the Upcoming American Society of Nephrology Renal Week Meeting in San Diego
6. NGM Biopharmaceuticals Appoints Dr. Arthur D. Levinson, Former Genentech CEO, to its Board of Directors
7. Laureate Pharma Announces Signing New Biopharmaceutical Development & Manufacturing Agreement
8. Helix BioPharma Provides Updates on Topical Interferon Alpha-2b and L-DOS47 Following Pre-IND Meetings With the U.S. FDA
9. PDL BioPharma Completes October 1 Special Dividend Payment
10. DOR BioPharma Announces Private Equity Financing of $3.85 Million with its Partner Sigma-Tau and Other Institutional Investors
11. Keryx Biopharmaceuticals Phase 2 Data of KRX-0401 (Perifosine) in the Treatment of Advanced Metastatic Renal Cell Cancer Selected for Oral Presentation at the Eighth International Kidney Cancer Symposium
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/27/2015)... TORONTO , Aug. 27, 2015 /PRNewswire/ ... announced the issuance of a white paper on the ... spray product.  The white paper was presented to the ... by Dr. James H. Anderson, Jr. , MD, ... be viewed online on the Generex website. ...
(Date:8/27/2015)... Aug. 27, 2015  PinnacleHealth CardioVascular Institute enrolled the first ... the United States in a trial ... stent for blockages in the main artery of the leg. ... and potentially less risk for stent fracture or re-narrowing after ... single-arm, multicenter clinical trial of the BioMimics 3D Stent System ...
(Date:8/27/2015)... 27, 2015 According to ... Research titled "Global Market Study on Urinary Catheters: ... 2021", the urinary catheters market is expected to be valued ... It is anticipated to expand at a CAGR ... Mn by 2021. View full report TOC ...
Breaking Medicine Technology:Generex Announces Issuance of Buccal Insulin White Paper 2Generex Announces Issuance of Buccal Insulin White Paper 3Generex Announces Issuance of Buccal Insulin White Paper 4First Pennsylvania Patient Treated in Landmark Vascular Study 2Global Urinary Catheters Market Will Reach US$1,755.0 Mn by 2021: Persistence Market Research 2Global Urinary Catheters Market Will Reach US$1,755.0 Mn by 2021: Persistence Market Research 3Global Urinary Catheters Market Will Reach US$1,755.0 Mn by 2021: Persistence Market Research 4
... Mobile Dog Heart Health Tour is heading south to ... health examinations in San Antonio,s McAllister Dog Park. From ... veterinary cardiologists will be performing on site heart screenings ... owners about canine heart disease. (Photo: ...
... Celsis In Vitro, Inc. (Celsis IVT) announced today ... District of Illinois in Chicago has entered a preliminary ... (the Defendants) due to their infringement of U.S. Patent ... California (Nasdaq: LIFE ) is the parent ...
Cached Medicine Technology:Free Dog Heart Checks at McAllister Park 2Free Dog Heart Checks at McAllister Park 3Celsis IVT Wins Preliminary Injunction Against Life Technologies and CellzDirect in Liverpoolâ„¢ Patent Infringement Lawsuit 2Celsis IVT Wins Preliminary Injunction Against Life Technologies and CellzDirect in Liverpoolâ„¢ Patent Infringement Lawsuit 3
(Date:8/27/2015)... , ... August 27, 2015 , ... In the addiction ... leaving weeks or months later, relapsing and returning again, all at great cost to ... while in sober living homes or soon after leaving facilities who claim to have ...
(Date:8/27/2015)... CA (PRWEB) , ... August 27, 2015 , ... ... array of instruments available for quantitative PCR (qPCR) in the last ... higher throughput and reduced operating costs. On the flipside, where do lab managers, ...
(Date:8/27/2015)... ... , ... According to an article published August 19 on Healio, ... educate doctors and patients on the best practices for type 2 diabetes care. The ... the new version is taking into account nearly a decade of recent research data. ...
(Date:8/27/2015)... ... August 27, 2015 , ... Thriveology Founders, Dr. Carly Letzt Carney ... The Amazing Aging Expo in Denver, Colorado on Saturday, August 29, 2015 at the ... in media outlets as health authorities, and will present a two part seminar entitled, ...
(Date:8/27/2015)... , ... August 27, 2015 , ... ... enter the exploding legal marijuana industry with the launch of its Doobster platform, ... legal marijuana to order products from their smart phones and tablets. Well, ...
Breaking Medicine News(10 mins):Health News:National Screenings of Documentary Indicate Burgeoning Questions about the Effectiveness of Addiction Treatment Facilities 2Health News:National Screenings of Documentary Indicate Burgeoning Questions about the Effectiveness of Addiction Treatment Facilities 3Health News:Douglas Scientific® Webinar Outlines Comparisons of Varied qPCR Instruments 2Health News:Douglas Scientific® Webinar Outlines Comparisons of Varied qPCR Instruments 3Health News:Article on New Diabetic Care Guidelines Shines Brightly on Weight Loss Surgery, notes Beverly Hills Physicians 2Health News:Article on New Diabetic Care Guidelines Shines Brightly on Weight Loss Surgery, notes Beverly Hills Physicians 3Health News:Internationally-renowned Naturopathic Doctor and Chiropractor Team up to Reveal Secrets of Avoiding Disease 2Health News:Doobster Launches a Nationwide, Comprehensive On-Demand Medical Marijuana App 2Health News:Doobster Launches a Nationwide, Comprehensive On-Demand Medical Marijuana App 3Health News:Doobster Launches a Nationwide, Comprehensive On-Demand Medical Marijuana App 4Health News:Doobster Launches a Nationwide, Comprehensive On-Demand Medical Marijuana App 5
... Non-profit organization RAND Corp. has come out with a finding ... who tend to use substance like marijuana, alcohol, and cigarettes ... a younger age, and to have a harder time quitting, ... setting or in groups. ,The results stem from ...
... on the dead skin of visitors' feet is turning into ... // ,Hordes of Turkish spa fish, members of the ... first Fish Reflexology spot at the Underwater World attraction., ... skin are removed by the fish., ,It costs $22 ...
... the scheme 'Assistance for capacity Building', Ministry of ... a maximum //of Rs. 1.50 crores or actual, ... emergency facilities of State Hospitals of towns/cities located ... NHAI, Department of Road Transport and Highways and ...
... Board of Health in a surprise move went back ... change the sex on their birth //certificates, without physically ... seconded by mental health professionals and transgender supporters, who ... discrimination against people who desire to adopt the 'opposite' ...
... A draft report from NHS Institute for Innovation and Improvement ... by GPs and visiting //nurses rather than admitting them in ... a range of conditions regularly seen in Accident and Emergency ... more could be done for reducing the numbers admitted in ...
... by the Department of Radiology at the University of ... the accuracy of diagnosing meniscal tears. ... there is one MR image with an abnormal finding. ... of 174 patients who had knee MR exams then ...
Cached Medicine News:
Gentle curve facilitates less traumatic removal from eye. Increased length ideal for myopic eyes...
Great for small incisions and excision needs...
Cannula: .90mm x 28mm (20 G x 1 1/8 in) Handle: 9.3cm (3 5/8 in) long, Flute, .90 x 28mm, vacuum handle [Charles]...
2.5mm...
Medicine Products: