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PDL BioPharma Announces First Quarter 2009 Financial Results
Date:5/7/2009

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. This press release and further information about PDL BioPharma, Inc. can be found at www.pdl.com.

Forward-looking Statements

This press release contains forward-looking statements, including regarding PDL's expectations with respect to its 2009 royalty revenues, expenses, net income and cash provided by operating activities.

Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from those, express or implied, in these forward-looking statements. Factors that may cause differences between current expectations and actual results include, but are not limited to, the following:

    --  The expected rate of growth in royalty-bearing product sales by PDL's
        existing licensees;
    --  The relative mix of royalty-bearing products manufactured and sold
        outside the U.S. versus manufactured or sold in the U.S.;
    --  The ability of our licensees to receive regulatory approvals to
        market and launch new
        royalty-bearing products and whether such products, if launched, will
        be commercially successful;
    --  Changes in any of the other assumptions on which PDL's projected
        royalty revenues are based;
    --  The outcome of pending litigation or disputes; and
    --  The failure of licensees to comply with existing license agreements,
        including any failure to pay royalties due.


Other factors that may cause PDL's actual results to differ materially from those expressed or implied in the forward-looking statements in this press release are discussed in PDL's filings with the SEC, including the "Risk Factors" sections
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SOURCE PDL BioPharma, Inc.
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