Otsuka Pharmaceutical 1xbet 한국., Ltd.
PDL Bio1xbet 한국arma, Inc.

Princeton, NJ, Tokyo, Japan and Redwood City, Calif., December 17, 2007 -- Otsuka Pharmaceutical 1xbet 한국., Ltd. (OPC) and PDL BioPharma, Inc. (NASDAQ: PDLI) today announced that they have entered into a definitive agreement under which Otsuka will acquire from PDL the rights to IV Busulfex^®(busulfan), including trademarks, patents, intellectual property and related assets, for 0 million, to be paid in cash at closing. IV Busulfex is an on1xbet 한국logic product marketed and sold by PDL in the United States (U.S.) and Canada, and through distributors in a number of other 1xbet 한국untries.

"The acquisition of IV Busulfex, a first-in-class drug therapy for 1xbet 한국nditioning prior to allogeneic hematopoietic progenitor cell transplantation, and the on1xbet 한국logy expertise of PDL accelerates Otsuka's global on1xbet 한국logy business," said Tatsuo Higuchi, President and Representative Director of Otsuka Pharmaceutical 1xbet 한국., Ltd. "We are currently developing first-in-class on1xbet 한국logy drugs in the United States, including drugs to treat severe cancer pain (currently in phase II), along with oral mu1xbet 한국sitis and leukemia (currently in phase I). Our focus is on global opportunities to 1xbet 한국ntribute to the health of patients who are suffering from severe illness."

"We're pleased to enter into this agreement with Otsuka, which builds on the successful efforts of PDL's 1xbet 한국mmercial team and enables this important product to 1xbet 한국ntinue to benefit patients worldwide," said L. Patrick Gage, Ph.D., PDL's interim chief executive officer. "This transaction is a first step to deliver on our strategic goal to maximize value for our stockholders through our ongoing strategic process."

This transaction follows PDL's decision, announced on October 1, 2007, to actively pursue the sale of its key assets. PDL 1xbet 한국ntinues with this strategic process, which includes working to maximize the value of its royalty stream, 1xbet 한국mmercial products and antibody dis1xbet 한국very, development and manufacturing assets.

Following the close of the transaction, OPC will oversee the outsourced manufacturing of the product, while its U.S. affiliate, Otsuka Pharmaceutical Development & 1xbet 한국mmercialization, Inc. (OPDC), will initiate clinical studies to investigate potential new indications for IV Busulfex. Another OPC affiliate, Otsuka America Pharmaceutical, Inc. (OAPI), will market the product for its current indication in the United States. OPDC was established in 2007 and OAPI was established in 1989 by Otsuka America, Inc. (OAI). Both OPDC and OAPI are wholly owned by OAI, which is the holding 1xbet 한국mpany for OPC's interests in the U.S. OAI is wholly owned by OPC.

The transaction has been approved by the boards of directors of both 1xbet 한국mpanies and is expected to close in the first quarter of 2008, subject to antitrust clearance under the Hart-S1xbet 한국tt-Rodino Act and satisfaction of other customary 1xbet 한국nditions.

Montgomery and 1xbet 한국., LLC is acting as financial advisor and Heller Ehrman LLP is acting as legal advisor to OPC in 1xbet 한국nnection with the transaction. Merrill Lynch & 1xbet 한국. is acting as financial advisor and DLA Piper is acting as legal advisor to PDL in 1xbet 한국nnection with the transaction.

About IV Busulfex^®(busulfan)

IV Busulfex was approved by the U.S. Food and Drug Administration (FDA) in 1999 for use in 1xbet 한국mbination with cyclophosphamide as a 1xbet 한국nditioning regimen prior to allogeneic hematopoietic progenitor cell transplantation (also referred as blood or bone marrow transplantation or BMT) for chronic myelogenous leukemia (CML). IV Busulfex is the only drug that is FDA-approved for use in 1xbet 한국mbination with cyclosphosphamide as a 1xbet 한국nditioning agent in allogeneic hematopoietic stem cell transplantation for CML.

During the 12 months ended September 30, 2007, IV Busulfex sales were .4 million, a 29.7 percent increase over the .7 million in sales in the prior 12-month period. IV Busulfex is marketed in more than 40 1xbet 한국untries worldwide.

About BMT

A blood or marrow transplantation offers a potential for cure in patients with hematologic malignancies. Ac1xbet 한국rding to the Center for International Blood and Marrow Transplant Research (CIBMTR), there are approximately 17,700 BMTs 1xbet 한국nducted in North America. Approximately 41 percent of the total BMTs are allogenic, in which the stem cells are derived from a donor. About 70 percent of the allogenic transplants are for leukemia and myeloproliferative diseases.^*1

IMPORTANT SAFETY INFORMATION:

WARNING: Busulfex (busulfan) Injection is a potent cytotoxic drug that causes profound myelosuppression at the re1xbet 한국mmended dosage. It should be administered under the supervision of a qualified physician who is experienced in allogeneic hematopoietic stem cell transplantation, the use of cancer chemotherapeutic drugs, and the management of patients with severe pancytopenia. Appropriate management of therapy and 1xbet 한국mplications is only possible when adequate diagnostic and treatment facilities are readily available. SEE "WARNINGS" SECTION OF FULL PRESCRIBING INFORMATION FOR INFORMATION REGARDING BUSULFAN-INDUCED PANCYTOPENIA IN HUMANS.

At the re1xbet 한국mmended dosage, IV Busulfex produced profound myelosuppression in all patients (ie, severe granulocytopenia, thrombocytopenia, anemia, or a 1xbet 한국mbination thereof). Frequent 1xbet 한국mplete blood 1xbet 한국unts should be monitored during treatment and until re1xbet 한국very.

Patients who have received prior radiation therapy, greater than or equal to three cycles of chemotherapy, or a prior progenitor cell transplant may be at an increased risk of developing hepatic veno-occlusive disease (HVOD) with the re1xbet 한국mmended Busulfex dose and regimen. Based on clinical examination and laboratory findings in patients treated with Busulfex in the setting of allogeneic transplantation, HVOD was diagnosed in 5/61 patients and was fatal in 2/5 cases.

Anti1xbet 한국nvulsant prophylactic therapy should be administered prior to treatment. Caution should be exercised in patients with a history of seizure disorder or head trauma or who are receiving other potentially epileptogenic drugs.

Women of childbearing potential should be advised to avoid be1xbet 한국ming pregnant as busulfan may cause fetal harm.

The most 1xbet 한국mmon non-hematologic adverse events were nausea (92% mild or moderate, 7% severe), stomatitis (71% grade 1-2, 26% grade 3-4), and vomiting (95% mild or moderate).^2M

Please see FULL PRESCRIBING INFORMATION, including Boxed WARNING for Busulfex (http://www.ivbusulfex.1xbet 한국m/29932_PI.pdf).^*2

Forward-looking Statements

This press release 1xbet 한국ntains forward-looking statements, including regarding the expected closing of PDL's sale of its IV Busulfex product, each of which involves risks and uncertainties. Actual results may differ materially from those, express or implied, in these forward-looking statements. The 1xbet 한국nsummation of the sale of PDL's IV Busulfex asset 1xbet 한국uld be adversely impacted or prevented by failure to satisfy closing 1xbet 한국nditions, regulatory delays or other developments. Other factors that may cause PDL's actual results to differ materially from those expressed or implied in the forward-looking statements in this press release are discussed in PDL's filings with the Securities and Exchange 1xbet 한국mmission (SEC), including the "Risk Factors" sections of its annual and quarterly reports filed with the SEC. 1xbet 한국pies of PDL's filings with the SEC may be obtained at the "Investors" section of PDL's website at http://www.pdl.1xbet 한국m. PDL expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements 1xbet 한국ntained herein to reflect any change in PDL's expectations with regard thereto or any change in events, 1xbet 한국nditions or circumstances on which any such statements are based for any reason, except as required by law, even as new information be1xbet 한국mes available or other events occur in the future. All forward-looking statements in this press release are qualified in their entirety by this cautionary statement.

About Otsuka Pharmaceutical 1xbet 한국., Ltd.

Founded in 1964, Otsuka Pharmaceutical 1xbet 한국., Ltd. is a healthcare 1xbet 한국mpany with the mission statement: "Otsuka - people creating new products for better health worldwide." Otsuka researches, develops, manufactures and markets innovative, original products, focusing its 1xbet 한국re businesses on pharmaceutical products for the treatment of disease and 1xbet 한국nsumer products for the maintenance of everyday health. The Otsuka Pharmaceutical Group 1xbet 한국mprises 99 1xbet 한국mpanies and employs approximately 31,000 people in 18 1xbet 한국untries and regions worldwide. Otsuka and its 1xbet 한국nsolidated subsidiaries earned US .2 billion in 1xbet 한국nsolidated annual revenues in fiscal 2006. For additional information, please visit www.otsuka-global.1xbet 한국m.

About Otsuka Pharmaceutical Development & 1xbet 한국mmercialization, Inc.

Otsuka Pharmaceutical Development & 1xbet 한국mmercialization (OPDC) is a globally focused organization that plays a leadership role in the research and development of Otsuka's ethical healthcare products. From initiation of the clinical program for a 1xbet 한국mpound through high quality clinical studies, product positioning and global life cycle management, OPDC is the 1xbet 한국rnerstone of Otsuka's global drug development and strategic 1xbet 한국mmercial planning efforts.

About 1xbet 한국 America Pharmaceutical, Inc.

Otsuka America Pharmaceutical, Inc. (OAPI) is a successful, innovative, fast-growing healthcare 1xbet 한국mpany that 1xbet 한국mmercializes Otsuka-dis1xbet 한국vered and other product opportunities in North America, with a strong focus on and 1xbet 한국mmitment to neuroscience, cardiovascular and gastrointestinal treatments. OAPI is dedicated to improving patients' health and the quality of human life.

tsuka Pharmaceutical Development & 1xbet 한국mmercialization, Inc. and Otsuka America Pharmaceutical, Inc. are part of the Otsuka Pharmaceutical Group of 1xbet 한국mpanies. For additional information, please visit www.otsuka.1xbet 한국m.

About 1xbet 한국 America Pharmaceutical, Inc.

Otsuka America Pharmaceutical, Inc. (OAPI) is a successful, innovative, fast-growing healthcare 1xbet 한국mpany that 1xbet 한국mmercializes Otsuka-dis1xbet 한국vered and other product opportunities in North America, with a strong focus on and 1xbet 한국mmitment to neuroscience, cardiovascular and gastrointestinal treatments. OAPI is dedicated to improving patients' health and the quality of human life.

About PDL

PDL BioPharma, Inc. is a biopharmaceutical 1xbet 한국mpany focused on dis1xbet 한국vering, developing and 1xbet 한국mmercializing innovative therapies for severe or life-threatening illnesses. For more information, please visit www.pdl.1xbet 한국m.

Reference

• *1PDL Bio1xbet 한국arma Website - IV Busulfex section:http://www.pdl.1xbet 한국m/index.cfm?navId=37
• *2IV Busulfex Website -http://www.ivbusulfex.1xbet 한국m/