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

om continuing operations 37,457 37,771 Loss from discontinued operations, net of income taxes (1) - (99,646) Net income (loss) $37,457 $(61,875) Income (loss) per basic share Continuing operations $0.31 $0.32 Discontinued operations - (0.85) Net income (loss) per basic share $0.31 $(0.53) Income (loss) per diluted share Continuing operations $0.23 $0.29 Discontinued operations - (0.71) Net income (loss) per diluted share $0.23 $(0.42) Cash dividends declared per common share $1.00 $- Shares used to compute income (loss) per basic share 119,327 117,525 Shares used to compute income (loss) per diluted share 172,570 141,232 (1) The financial results associated with both PDL's former commercial operations which were sold in March 2008 and PDL's former biotechnology operations which were spun off in December 2008 have been presented as discontinued operations for the three months ended March 31, 2008.

                                     PDL BIOPHARMA, INC.
                          CONDENSED CONSOLIDATED BALANCE SHEET DATA
                                        (in thousands)
                                         (unaudited)

                                               March 31,          December 31,
                                    
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SOURCE PDL BioPharma, Inc.
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