A guess on Ligand multiple SERMs strategy:
Tamoxifen is the old SERM, own by Zeneca, has more side effects,
clearly effective in breast cancer and prevention of breast cancer.
Ligand gets from this one 0% royalties (obvious).
Raloxifene (Evista) is the new SERM, proven for osteoporosis,
some evidence on breast cancer prevention, on trial for pro-heart
effects. Own by Lilly, Ligand gets 0% royalties (obvious).
Droloxifene own by Pfizer, on phase III trials for osteoporosis,
apparently similar to Evista. Ligand helped on development, after
court fights Ligand gets 3% royalties for osteoporosis,
6% for other indications and 6% on sales above $500 millions.
ERA-923, Ligand collaboration with Wyeth-Ayerst (AHP). The IND
application for Phase I was just send to the FDA. Ligand will get
bigger royalties from WA-AHP than for the Pfizer product (I hope so,
is this true?).
TSE-424 in preclinicals with WA-AHP (is this the same ERA-923?).
It mades a lot of sense that Ligand try to develop more SERMs (they
do not compete with their own RARs RXRs in breast cancer and are clear
candidates for combination therapies.) They are negotiating for more
royalties (I hope more than 3%) from a position of stregnth. |
