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BRIEF-PDL Biopharma says agreed to equity investment in Noden Pharma
May 24, 2016 / 8:16 PM / in a year

BRIEF-PDL Biopharma says agreed to equity investment in Noden Pharma

May 24 (Reuters) - PDL Biopharma Inc

* Transaction expected to be immediately accretive

* PDL expects to make equity contributions to Noden totaling approximately $107 million in first year of transaction

* Noden is also expected to obtain debt financing in conjunction with PDL equity investment.

* PDL will have three of five seats on Noden’s board of directors

* PDL Biopharma commits to equity investment in Noden Pharma for the acquisition of Tekturna (aliskiren) and Tekturna HCT (aliskiren and hydrochlorothiazide) Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)

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