PDL BioPharma Provides Second Quarter 2009 Revenue Guidance of Approximately $125...

PDL BioPharma Provides Second Quarter 2009 Revenue Guidance of Approximately
$125 Million

INCLINE VILLAGE, Nev., June 8 /PRNewswire-FirstCall/ -- PDL BioPharma, Inc.
(PDL) (Nasdaq: PDLI) today announced revenue guidance for the second quarter
ended June 30, 2009 of approximately $125 million, as compared with $106
million for the second quarter of 2008. The increase is due primarily to
royalty revenues driven by higher product sales of Avastin(R), and
Lucentis(R), which are marketed by Genentech, and sales of Tysabri(R), which
is marketed by Elan. Royalty revenues are based on first quarter product sales
by PDL's licensees and include $18.7 million for Synagis(R), which is marketed
by MedImmune. Also included in the second quarter revenue estimate is the
second and final installment of $12.5 million from Alexion based on the
companies' December 2008 settlement and license agreement. When compared with
2008, royalty revenue for foreign sourced sales was negatively impacted by
changes in foreign exchange rates; approximately 50 percent of underlying
product sales is in currencies other than U.S. dollars.

The above guidance is preliminary and actual published results may differ from
such guidance. PDL plans to release its financial results for the second
quarter 2009 on August 6, and will hold a conference call to discuss financial
results and provide an update on company activities. Additional information
regarding the call will be announced in late July.

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.

NOTE: PDL BioPharma and the PDL BioPharma logo are considered trademarks of
PDL BioPharma, Inc.

Forward-looking Statements
This press release contains forward-looking statements, including regarding
PDL's expectations with respect to its 2009 royalty revenues.

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 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 including foreign currency
exchange rates 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 of its annual and quarterly reports filed with the SEC.
Copies of PDL's filings with the SEC may be obtained at the "Investors"
section of PDL's website at www.pdl.com. PDL expressly disclaims any
obligation or undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change in PDL's
expectations with regard thereto or any change in events, conditions or
circumstances on which any such statements are based for any reason, except as
required by law, even as new information becomes available or other events
occur in the future. All forward-looking statements in this press release are
qualified in their entirety by this cautionary statement.

SOURCE PDL BioPharma, Inc.

Carolyn Wang of WeissComm Partners, +1-415-946-1065, cbwang@wcpglobal.com, for
PDL BioPharma, Inc.