logo
Plus   Neg
Share
Email

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."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The CEO of German engineering giant Siemens AG criticized U.S. President Donald Trump as becoming the "face of racism and exclusion" following his alleged racist comments targeting four progressive Democratic Congresswomen recently. "It depresses me that the most important political office of the world will be the face of racism and exclusion," Joe Kaeser said in a Twitter post in German. Volvo Cars issued a recall for 507,000 vehicles worldwide, citing a risk of fire due to a faulty engine component. The Swedish automaker reportedly said it has received reports of a small number of cars catching fire, but no one has been injured. The recall could affect certain vehicles produced during the period from 2014 to 2019 and having two-liter, four-cylinder diesel engines. Auction house Sotheby's said on the 50th anniversary of the Apollo 11 lunar landing, it has auctioned the three original videotape recordings depicting the event for $1.82 million in New York. The price is more than 8,000 times the price paid for the tapes by then-NASA intern Gary George at a government surplus auction in 1976. Apollo 11 was the spaceflight that first landed humans on the moon.
Follow RTT