PDL BioPharma, Inc. produces and markets biopharmaceutical products. It operates through the following segments: Income Generating Assets, Pharmaceutical, and Medical Devices. The Income Generating Assets segment consists of revenues derived from notes and other long-term receivables, royalty rights-at fair value, equity investments, and royalties from issued patents in the United States and elsewhere. The Pharmaceutical segment covers revenues from branded prescription medicine products being sold under the name Tekturna and Tekturna HCT in the United States, and Rasilez and Rasilez HCT for the rest of the world. The Medical Devices segment handles revenues from the LENSAR Laser System sales. The company was founded by Cary L. Queen and Laurence Jay Korn in 1986 and is headquartered in Incline Village, NV.