PDL BioPharma - Returning value to shareholders

PDL BioPharma has a portfolio of healthcare-related assets. These include the Assertio royalty stream, covering rights for extended release (XR) formulations of metformin, a 29% stake in Evofem, a women’s health company on the brink of commercialization, and LENSAR, a femtosecond laser cataract surgery company. PDL recently announced a decision to cease additional strategic investments and monetize its assets, returning net proceeds to shareholders likely in the form of additional share repurchase programs and/or dividends.