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Stock Market & Financial Investment News

News Breaks
January 30, 2013
06:47 EDTPDLIPDL BioPharma announces departure of Principal Accounting Officer Krumel
Caroline Krumel resigned from her position as VP of Finance and Principal Accounting Officer effective immediately. Krumel did not advise the company of any disagreements over any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure. The company will begin a search for a new Finance VP.
News For PDLI From The Last 14 Days
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March 30, 2015
11:18 EDTPDLIPDL BioPharma rises after Cerdelga approved in Japan
Genzyme, a Sanofi (SNY) company, announced earlier that the Ministry of Health, Labor and Welfare has granted marketing approval for Cerdelga as oral therapy for the treatment of adults with Gaucher disease type 1 in Japan. PDL BioPharma (PDLI) announced on November 6 that it has acquired a portion of the University of Michigan's worldwide royalty interest in Cerdelga for $65.6M. Under the terms of the royalty agreement, PDL will receive 75% of all royalty payments due under U-M's license agreement with Genzyme until expiration of the licensed patents, excluding any patent term extension. The royalty rate used to calculate the royalties to be paid by Genzyme to U-M was not disclosed by the parties. Shares of PDL BioPharma are up 12c, or 1.8%, to $7.16 in morning trading.

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