Update: Adding long-term revenue streams
PDL recently acquired the rights to two revenue streams, which may help its long-term cash flow position. Firstly, it signed a deal of up to $200m ($50m upfront) with Ariad for royalty rights to Iclusig, an approved oncology drug. Secondly, it signed a $65m deal (all upfront) with AcelRx for royalty rights for its sufentanil sublingual tablet system, Zalviso, which has just been approved in the EU and should launch in H116. The two products could provide total peak royalties of around $50m in 2027.PDL BioPharma is engaged in acquiring commercial stage pharmaceutical assets as well as late clinical stage pharmaceutical products. The company operates in three segments: Pharmaceutical, which consists of prescription medicine products sold under the name Tekturna?, Tekturna HCT?, Rasilez?, and Rasilez HCT?; Medical Devices, which consists of the LENSAR? Laser System; and Income Generating Assets, which consists of notes and other long-term receivables, royalty rights and hybrid notes/royalty receivables, equity investments and royalties from issued patents in the United States and elsewhere, covering the humanization of antibodies, which it refers to as the Queen et al. patents.
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