Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 186.87

-1.9%

10:26 AM EST

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To: Henry Niman who wrote (7428)	9/24/1997 6:30:00 PM
From: Arthur Radley	of 32384

Henry, my take on the deal is that it takes care of one my previous concerns as to how they were going to have a clean operation when two separate companies control one compound. You can't have two CEO's running one company and you can't have two companies running the decision making process for a major drug.The royalty arrangement certainly makes sense and the complexity of this arrangement certainly explains what the lawyers have been doing and the time frame that this has taken at it relates to the diabetes deal. My only concern (but minor one)is that it appears that AGN will get a 33 1/3% royalty for Targetin/diabetes only and not for an cancer or skin indications. When you consider the size of the diabetes market I guess that we shouldn't quibble over 33 1/3% royalty payments. One final thought, it appears that they really won't have to pay out$25M because the balance of ALRI funds will be available for LGND and AGN. I think the market tomorrow should react positively tomorrow because just think in only a matter of a few months LGND should have their first drug(panretin)approved and in the market place. EXCITING EXCITING EXCITING STUFF............

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