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

To: jayhawk969 who wrote (13745)	1/26/1998 10:11:00 AM
From: Henry Niman	Respond to of 32384

J.D., Thanks for the heads up on the recent Lehman report. I can't figure out how to upload it, but it essentially re-iterated what was posted here previously. Lehman indicated that PFE thought that the efficay and safety data for osteoporosis was "encouraging" and that PFE would also be looking into prevention of breast cancer and other potential health issues. Lehman noted that the lawsuit produced a 1% royalty for breast cancer treatment which they esinmated would peak at $100 million for Drloxifene, which would translate into a $1 million royaty payment. They also thought that the milestone payment for Drloifene NDA filing for breast cancer would be small (the LGND/PFE alliance actually targets osteoporosis). Lehman noted that the royaty rate for other indications, including osteoporosis would be 3% and consider this market to be more "lurative". They also noted that LGND had several other dugs in the clinic and mentioned NDA filings for oral and topical Panretin and Targretin within the next 18 months.