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Biotech / Medical : Ligand (LGND) Breakout!
LGND 202.50-2.7%Nov 7 9:30 AM EST
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To: Biomaven who wrote (31273)2/25/2003 5:25:53 PM
From: Icebrg  Read Replies (3) of 32384
 
Peter,

It looks to be a case of successful channel stuffing in 2001. Ligand is reporting the following quarterly sales figures:



        Q-1     Q-2    Q-3    Q-4    Year
2001    1,3     1,6    1,7    1,9     6,5 

2002    1,4     0,2    1,2    0,8     3,6



In a comment in the 2002 Q2 10Q, they say:

"The decrease in sales for each of these products is due to decisions made by several of our major wholesalers not to purchase or to purchase lower quantities of our products in order to reduce inventory carrying levels"

Erik
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