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PDL BioPharma, Inc. (PDLI) Spins Off Biotech Assets, Moves to Tahoe


12/19/2008 11:20:19 AM

PDL BioPharma Inc. has spun off its biotech business into Facet Biotech Corp. and moved its headquarters to Incline Village, Nevada. Facet, based in PDL’s former Redwood City headquarters, was formed after a revolt by some of PDL’s largest shareholders led to the sale of several compounds, hundreds of layoffs and the departure of then-CEO Mark McDade.



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