INCLINE VILLAGE, Nev., Dec. 15 /PRNewswire-FirstCall/ -- PDL BioPharma, Inc. (PDL) today announced that it has paid the December 15, 2009 special dividend payment of $1.67 per share to all stockholders owning shares of PDL as of December 1, 2009. With this payment, distributions to stockholders for the year ended December 31, 2009 total $2.67 per share. In January 2010, the Company will make a determination regarding the federal tax characteristics of the Company's 2009 cash distributions and the allocation between dividend income and return of capital for federal income tax purposes. This information will be disclosed in a press release, posted on the Company's website and reported to the Company's transfer agent for inclusion in Form 1099-DIV to be sent at the end of January to each stockholder of the Company's stock in 2009.
About PDL BioPharma, Inc.
PDL BioPharma pioneered the humanization of monoclonal antibodies and, by doing so, enabled the discovery of a new generation of targeted treatments for cancer and immunologic diseases. PDL is focused on maximizing the value of its antibody humanization patents and related assets. The Company receives royalties on sales of a number of humanized antibody products marketed today and also may receive royalty payments on additional humanized antibody products launched before patent expiry in late 2014. For more information, please visit www.pdl.com.
CONTACT: Cris Larson of PDL BioPharma, Inc., +1-775-832-8505,
Cris.Larson@pdl.com; or Danielle Bertrand of WeissComm Partners,
+1-415-946-1056, dbertrand@wcpglobal.com, for PDL BioPharma
Web site: http://www.pdl.com/
