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March 14, 2006 > PDL BioPharma names new CFO

PDL BioPharma names new CFO

FREMONT, Calif., March 7, 2006 _ PDL BioPharma, Inc. (PDL) (Nasdaq: PDLI) announced that Andrew Guggenhime will join them Senior Vice President and Chief Financial Officer.

Guggenhime will join the company's senior management team reporting directly to Chief Executive Officer Mark McDade, and will be responsible for all financial and information technology operations of the company.

Guggenhime joins PDL BioPharma from Neoforma, Inc. where he had been CFO since October 2000. In this role, he was responsible for the accounting, finance, financial planning and analysis, investor relations, legal and facilities departments

PDL BioPharma, Inc. is a biopharmaceutical company focused on discovering, developing and commercializing innovative therapies for severe or life threatening illnesses. The company currently markets and sells a portfolio of leading products in the acute-care hospital setting in the United States and Canada and generates royalties through licensing agreements with top-tier biotechnology and pharmaceutical companies based on its pioneering humanized antibody technology. Currently, PDL BioPharma's diverse late-stage product pipeline includes six investigational compounds in Phase 2 or Phase 3 clinical development for hepatorenal syndrome, inflammation and autoimmune diseases, cardiovascular disorders, and cancer.

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