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12:00 AM
Oct 06, 2003
 |  BioCentury  |  Strategy

Home improvement

Knowing that his company had only one product sold by a partner to show for its 16 years of work, Mark McDade promised shareholders soon after he joined Protein Design Labs Inc. last year that the company would have a marketed product of its own by 2007. Last week, McDade made good on that promise the easy way, repurchasing rights to its Zenapax daclizumab from Roche for up to $101 million in cash.

PDLI expects to use Zenapax as the basis for building its own sales and marketing capability aimed at the hospital setting and at gastroenterologists, where other products in its pipeline also are targeted.

PDLI (Fremont, Calif.) will pay $80 million for Zenapax rights in all indications outside of...

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