Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 202.12

+1.5%

10:59 AM EST

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To: Henry Niman who wrote (19098)	4/15/1998 11:34:00 AM
From: Mudcat	Read Replies (3) of 32384

Henry: I was reading Ligands 10K Report and portions of the Lilly deal and had a question. It mentions Ligand Systematic products and defines this as 1.27 "LIGAND SYSTEMIC PRODUCT" shall mean any product sold or marketed by or on behalf of Ligand or any Ligand Affiliate or sublicensee for use outside the Field which contains Targretin and is intended for Systemic Administration. I'm not sure what this definition means. Does outside the field which contains Targretin mean Panretin or other Lgnd compounds or does it mean uses of Targretin outside the Lilly agreement? The reason I'm asking because Ligand has an option in the Lily deal (para 4.4) for Lilly to distribute all Ligand Systematic products for a royalty based on net sales. Does this mean Ligand doesn't have to develop a sales and distribution force for its products?

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