Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 206.36

+1.4%

Nov 26 3:59 PM EST

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To: Spekulatius who wrote (28524)	3/13/1999 10:57:00 PM
From: Henry Niman	Read Replies (2) of 32384

<<The rest of the pipeline is not worth that much in the near future, since most are licensed out to partners for singe digit royalities (most likely for the lower singe digits) and later stage products are years away from the market.>> I believe that your assumptions on royalty rates are way off base. LGND's first alliance was with PFE. The royalty rate on Droloxifene was determined by an out of court settlement (PFE didn't want to pay anything, because when LGND selected it, PFE did have rights to it). LGND's second choice under the PFE osteoporosis agreement was CP-366,156 and the royalty rate is 6% for all indications. I believe that LGND has indicated that all other royalty rates with major partners (GLX, ABT, AHP, SBH, LLY) was in double digits.

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