Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 190.43

-0.7%

Feb 6 9:30 AM EST

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To: smh who wrote (28336)	2/21/1999 5:49:00 PM
From: Henry Niman	of 32384

The duel pricing issue was described by me Thursday: Message 7893437 and by myself and others some time ago (I had guessed that different dosage levels might have been a way around the dual pricing). As far as rexinoid specificity is concerned, it was discussed when LGND bought back ALRT (and AGN had rights to the more specific, but less developed rexinoids). What I found most annoying, was the reference to the "now" being a typo. I wasn't sure if it was made in jest, but I suspected that it was not. I couldn't imagine any company issue a press release saying that the news indicated that they would not be licensing a compound out for an indication (cancer), which was not even the subject of LLY's decision not to move the rexinoids forward in diabetes. The triglyceride problem had been discussed many times in the past and the point had also been made that what was acceptable in a fatal illness like breast cancer, might not be acceptable for chronically treating a disease like type II diabetes. As far as the vagueness is concerned, I believe that it was deliberate because of competition and LLY's desire to keep the competition guessing. At this point I believe that LGND's only obligation was to notify shareholders of a material event (LLY's decision not to move the first generation rexinoids forward to treat diabetes), and not to give the world insight into how they are solving the specificity and side effects issues (which may not even be through rexinoids). DR reiterated that Targretin was LGND's "most important product", which should have provided some clues about things to come.

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