PDL sells off drugs as it counters harsh criticism
PDL BioPharma has auctioned off two marketed drugs and two experimental therapies as it restructures in the face of some severe criticism over how it's been managed. PDL was hammered last year for losing $130 million and moving into a swanky new headquarters building in Redwood City, CA. As a result, it started auctioning off assets. In this new deal, EKR Therapeutics will buy the hypertension drug Cardene and the heart therapy retavase along with an experimental therapy for heart failure and a new formulation of Cardene.
- see the release for more
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