PDL BioPharma Acquires Depomed's Remaining 50% Interest in Royalties and Milestones on Type 2 Diabetes Products
Under terms of the amendment, PDL has made an initial payment of
"While our company's strategic focus has shifted to equity and product investments and away from royalty agreements, our familiarity with the
Products covered by the Royalty Agreement and amendment include Glumetza® and its authorized generic, Jentadueto XR®, Invokamet XR® and Synjardy XR®.
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.
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