Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 203.50

-1.6%

Nov 25 3:59 PM EST

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To: Andrew H who wrote (14262)	2/5/1998 6:59:00 AM
From: Henry Niman	Read Replies (1) of 32384

On a positive note, it looks like merger mania in pharmas is beginning to spill over into Biotechs: Pharmacopeia to acquire Molecular PRINCETON, N.J., Feb 4 (Reuters) - Pharmacopeia Inc and Molecular Simulations Inc said Wednesday that they have signed a definitive deal in which Pharmacopeia will acquire MSI for about 7.0 million newly-issued Pharmacopeia common shares. In a statement, Pharmacopeia and MSI said it will also convert the outstanding MSI options into Pharmacopeia options, potentially resulting in the net issuance of another 1.5 million new Pharmacopeia shares. Based on the $16.50 per share closing price of Pharmacopeia common stock on February 3, 1998, the transaction is valued at approximately $140 million. MORE Rtr 17:45 02-04-98

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