PDL BioPharma up for sale

PDL BioPharma Inc. (PDL) is actively seeking offers for the sale of the company as a whole or of its key assets following a review of its strategic alternatives.

In conjunction with the announcement of the potential sale on Monday, CEO and director Mark McDade also stepped down immediately. The company’s board elected former chairperson of the board L. Patrick Gage as interim CEO and Karen A. Dawes as the new chairperson of the board.

The company has said it is relocating from Fremont to Redwood City this fall.

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