August 5, 2005 -- In announcing its second quarter results, Protein Design Labs gave investors their first read on the new and improved version of the company, that is, the way the future looks now that PDL has absorbed ESP Pharma. And the future looks very good. The company reported improved royalty payments, and the profits from its ESP acquisition also beat the street. We look at the progress this company has made in the first half of the year and give our estimate of its investment potential...