Founded in 1986, PDL BioPharma, formerly known as Protein Design Labs, Inc., is headquartered in Incline Village, Nevada. The company acquires and manages a portfolio of companies, products, royalty agreements, and debt facilities. Its key revenue comes from the Pharmaceutical segment, which includes branded prescription medicine products sold globally. PDL BioPharma operates in Europe, North America, Asia, and other countries, with prime revenue generated from Asia and North America. The company holds patents for humanizing antibodies and engages in intellectual property asset management.