PDL BioPharma has made key hires and reconfigured its business in preparation for the expiry of a crucial set of patents that have provided revenue for decades. The company has told investors that it will use its remaining cash to either purchase new royalty-bearing assets or, failing that, wind up the business.
Founded in 1986 as Protein Design Labs (PDL), PDL BioPharma Inc. pioneered the development of humanized antibodies, and went...
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