Pros
As an Engineer I got to work with many of my different skill sets which was great and they even helped expand some of my skill sets. Some of the work can definitely be interesting. There are quite a few extremely smart scientists that work for the company and they are a great source of knowledge.
Cons
This company has more VP's than it has Engineers. They make most of their money from Lawsuits rather than actually selling product. See their stock ticker if you want confirmation. As an engineer this is one of the worst places I could think of to work. They are very set in stone in the paths that you must take. The management drives their employees extremely hard for little return. I was actually warned when I went to interview, but did not follow through with the employee's advice. Everyone looks out for themselves at this company and there is no team feeling. All the upper management only look out for themselves and have no problem throwing other VP's under the bus to prove they are right. After working at Palomar for multiple years, I have to say it is possibly the most hostile and worst work environment I have ever worked in.