PDL BioPharma, Inc., following a business and portfolio review, has changed its strategic focus to the discovery and development of novel antibodies in oncology and select immunological diseases. According to a company statement, it will realign its organization this fall to support its new strategy.

As a result of this new strategic focus, which does not include cardiovascular disease, PDL plans to sell its commercial assets, including its Cardene, Retavase and IV Busulfex products, as well as the ularitide development-stage cardiovascular product. Also, following a recent Data Monitoring Committee evaluation of data from the ongoing RESTORE 1 trial, the company has decided to terminate the Nuvion (visilizumab) phase III program in ulcerative colitis due to insufficient efficacy and an inferior safety profile.