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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: Sunny Jim who wrote (11702)	11/25/1997 6:20:00 PM
From: Arthur Radley	Respond to of 32384

Jim, Actually this is new news in the sense that the deal with LLY is final. Everything was contingent on the ALRI and AGN deal being completed so that they could move ahead and receive the monies from LLY as specified in the deal. If the deal with LLY hadn't gone through......that would have been another story.

To: Sunny Jim who wrote (11702)	11/25/1997 8:27:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

Jim, I think that you missed the sequence of events required to finalize the LLY deal and pave the way for new news.

To: Sunny Jim who wrote (11702)	11/26/1997 6:50:00 AM
From: Henry Niman	Respond to of 32384

Jim Here's the Dow Jones version of the press release: Ligand Pharma Begins Pdt Development Pact With Eli Lilly Dow Jones Newswires SAN DIEGO -- Ligand Pharmaceuticals Inc. (LGND) met the necessary conditions to begin its alliance with Eli Lilly & Co. (LLY) to develop products based on Ligand's intracellular receptor technology. In a press release, Ligand said consumation of the deal, announced on October 20, was contingent on Ligand buying back all outstanding Allergan Ligand Retinoid Therapeutics Inc. shares and rights to compounds held by Allergan Ligand. The joint venture will focus on products to treat diabetes, obesity, dislipidemia, insulin resistance and cardiovascular diseases associated with insulin resistance and obesity. Ligand Pharmaceuticals engages in gene transcription technology. Eli Lilly is a research-based pharmaceutical company. Current quote for: LGND \| LLY