PDL BioPharma, Inc. (NASDAQ:PDLI) Files An 8-K Other Events

On December 16, 2019, PDL BioPharma, Inc. (the Company) issued a press release announcing the Company’s Board of Directors has approved a $75 million increase to the previous $200 million repurchase program to acquire outstanding PDL common stock and convertible notes. A copy of the press release is furnished hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

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PDL BIOPHARMA, INC. Exhibit
EX-99.1 2 pdli-201912168xkex991.htm PRESS RELEASE Exhibit Exhibit 99.1PDL BioPharma Board of Directors Increases Share and Note Repurchase Authorization to $275 MillionINCLINE VILLAGE,…
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About PDL BioPharma, Inc. (NASDAQ:PDLI)

PDL BioPharma, Inc., formerly Protein Design Labs, Inc., manages a portfolio of patents and royalty assets, consisting of its Queen et al. patents, license agreements with various biotechnology and pharmaceutical companies, and royalty and other assets acquired. The Company provides non-dilutive growth capital and financing solutions to late-stage public and private healthcare companies and offers immediate financial monetization of royalty streams to companies, academic institutions and inventors. It evaluates its investments based on the quality of the income generating assets and potential returns on investment. It is focused on intellectual property asset management, acquiring income generating assets and maximizing value for its stockholders, among others. It receives royalties on sales of over ten humanized antibody products, which include Avastin, Herceptin, Xolair, Kadcyla, Tysabri, Actemra, Gazyva and Entyvio all of which are approved for use.