PDL BioPharma (NASDAQ: PDLI) is a biotech company with a patented process to create humanized antibodies. PDL engages in the management of antibody humanization patents and royalty assets, which consist of its Queen et al. patents and license agreements with various biotechnology and pharmaceutical companies. The company was formerly known as Protein Design Labs, Inc. and changed its name to PDL BioPharma, Inc. in 2006. PDL BioPharma, Inc. was founded in 1986 and is headquartered in Incline Village, Nevada.

Antibodies are an increasingly important tool in the arsenal of advanced "targeted therapies" that pharmaceutical companies are rolling out to combat diseases such as cancer. Traditional cancer drugs kill cancer cells, but also healthy cells as well, making them extremely toxic and limiting the doses that can be given to patients. Targeted therapies, however, impact only cancerous cells, can be given in higher doses, and are often more effective than traditional chemotherapy regimens. Examples include Genentech/Roche’s Avastin, Herceptin, and Lucentis and Elan/Biogen Idec’s Tysabri, which are all produced using PDLI's antibody technology and together made up more than 80% of the company's royalty revenue in 2008.
 

PDL's business is the management of antibody humanization patents and royalty assets which consist of its Queen et al. patents and license agreements with numerous biotechnology and pharmaceutical companies pursuant to which it has licensed certain rights under our Queen et al. patents. It receives royalties based on sales of humanized antibody products marketed today and may also receive royalty payments on additional humanized antibody products launched before final patent expiry in December 2014. Under most of its licensing agreements, it is entitled to receive a flat-rate or tiered royalty based upon its licensees’ net sales of covered antibodies. PDL continuously evaluates alternatives to increase return for its stockholders, for example, purchasing royalty generating assets, buying back its convertible notes, repurchasing its common stock, selling the company or paying dividends.  

5/8/2012	PDL BioPharma to Present at Upcoming Conferences ...
5/3/2012	PDL BioPharma Announces First Quarter 2012 Financial Results...
4/27/2012	PDL BioPharma to Announce First Quarter 2012 Financial...

 

Date Insider Shares Type Transaction Value* Jun 9, 2010 LINDELL JODY S Director 9,900 Direct Acquisition (Non Open Market) at $5.05 per share. $49,995 Jun 9, 2010 SELICK HAROLD E Director 9,900 Direct Acquisition (Non Open Market) at $5.05 per share. $49,995 Jun 9, 2010 FRANK FRED Director 9,900 Direct Acquisition (Non Open Market) at $5.05 per share. $49,995 Jun 9, 2010 SANDMAN PAUL W Director 9,900 Direct Acquisition (Non Open Market) at $5.05 per share. $49,995 May 14, 2010 LARSON CHRISTINE R Officer 5,000 Direct Purchase at $5.71 per share. $28,550 Apr 30, 2010 LARSON CHRISTINE R Officer 10,000 Direct Purchase at $6.17 - $6.19 per share. $62,000

» High dividend yield with upside optionality; 4 - 2011 dividends of $0.15/quarter; $0.15/quarterly dividend paid on March 14, and set to pay on June 14, September 14, and December 14, 2012

» Continuously evaluating alternatives to enhance stockholder return,pay dividends,purchase of commercial stage royalty assets, stock or convertible note buyback

» New Phase 2/3 indications for existing commercial products (Avastin, Herceptin, Lucentis, Xolair, Tysabri, Actemra)

» Licensed Phase 2/3 products in development including 2 Alzheimer products, a Type 1 diabetes product and others

» Improved royalty rates frm Genentech/Roche as Roche moves manufacturing outside of the United States