Elizabeth O'Farrell Named to PDL BioPharma's Board of Directors
"Liz's experience as a senior executive of a major pharmaceutical company with global operations will make her a valuable addition to our Board," said
In 2017 Ms. O'Farrell retired from a 24-year career with
"I am delighted to join PDL and am excited to support the Company's plans to acquire and nurture quality assets in the biopharmaceutical industry," said Ms. O'Farrell. "I look forward to bringing my global business and finance experience, along with industry contacts to PDL in support of our mission."
Ms. O'Farrell was an active board member of the
Ms. O'Farrell holds a BS in accounting with honors and an MBA in management information systems, both from
PDL seeks to provide a significant return for its shareholders by acquiring and managing a portfolio of companies, products, royalty agreements and debt facilities in the biotech, pharmaceutical and medical device industries. In 2012, PDL began providing alternative sources of capital through royalty monetizations and debt facilities, and in 2016 began acquiring commercial-stage products and launching specialized companies dedicated to the commercialization of these products. To date, PDL has consummated 17 of such transactions, of which nine are active and outstanding. PDL has one debt transaction outstanding, representing deployed and committed capital of
PDL operates in three segments designated as Income Generating Assets, Pharmaceutical and Medical Devices.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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. Important factors that could impair the value of the Company's assets and business are disclosed in the risk factors contained in the Company's Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 16, 2018 and any subsequent filings. All forward-looking statements are expressly qualified in their entirety by such factors. We do not undertake any duty to update any forward-looking statement except as required by law.
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PDL BioPharma, Inc., Peter Garcia, CFO, 775-832-8500, Peter.firstname.lastname@example.org; LHA Investor Relations, Jody Cain, SVP, 310-691-7100, email@example.com