Item  7.01. Regulation FD Disclosure.

On November 2, 2009, the Company issued a press release announcing the closing of a securitization transaction. A copy of this press release is attached as Exhibit 99.1 hereto.

Exhibit 99.1 contains forward-looking statements within the meaning of the federal securities laws. These statements are present expectations and are subject to the limitations listed therein and in the Company’s other SEC reports, and actual events or results may differ materially from those in the forward-looking statements.

The foregoing information, including Exhibit 99.1 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, nor shall it be deemed incorporated by reference in any filing under the Securities Act, except as shall be expressly set forth by specific reference in such filing.

 

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

 

Exhibit
No.

 

Description

99.1   Press Release for Closing of Securitization Transaction.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

PDL BIOPHARMA, INC.
(Company)

By:

 

/S/    CHRISTINE R. LARSON

  Christine R. Larson
  Vice President and Chief Financial Officer

Dated: November 2, 2009

EXHIBIT INDEX

 

Exhibit
No.

 

Description

99.1   Press Release for Closing of Securitization Transaction.