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PDL BioPharma Board Authorizes New $100 Mln Stock Repurchase Program

PDL BioPharma Inc. (PDLI) said that its Board has authorized a new stock repurchase program to acquire up to $100 million of the Company's common stock.

"We believe this program is an appropriate means to create shareholder value given the current discrepancy between our share price and our book value," said John McLaughlin, Chief Executive Officer of PDL. "This is our third and largest stock repurchase program having completed a $30 million stock repurchase program in June 2017 and a subsequent $25 million stock repurchase program in July 2018."

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