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

To: Flagrante Delictu who wrote (15558)	2/21/1998 2:18:00 AM
From: Andrew H	Read Replies (2) \| Respond to of 32384

This should do it for you Bernie. Start on P3. There is a second filing on Dec.5, which might contain additional information. edgar-online.com

To: Flagrante Delictu who wrote (15558)	2/21/1998 7:52:00 AM
From: Henry Niman	Read Replies (2) \| Respond to of 32384

Speaking of LLY, they and MRK are mentioned in next week's Barron's in the osteoporosis article. For drug treatment, only Evista and Fosamax are mentioned. In the US there are 20 million women and 5 million men with osteoporosis. Fosamax sales are in the $1/2 Billion range and Evista sales are causing huge gyrations in LLY's stock price. No mention of LGND, either directly or through partners (PFE, AHP) who have SERMs in the clinic (Droloxifene, CP-366,156) or slated to enter this quarter (TSE424). There is also no mention of combing Targretin with Evista to improve results (sales). Both Fosamax and Evista are almost as good as estrogen for slowing bone loss, and both seem to have a better safety profile with regard to stimulating breast tissue (but I don't think that either provide the cardio-protective benefit of estrogen). AHP is mentioned in the area of patching up fractions, and the Hybritech Division of Beckman Instruments is mentioned in the diagnostic area.

To: Flagrante Delictu who wrote (15558)	2/21/1998 10:29:00 AM
From: Flagrante Delictu	Respond to of 32384

bluejeans, Having read the SEC document filed by Lilly & pointed out to me by Andy, I noticed that the Issuer {LGND} " has been granted an option, exercisable until Feb. 27, 98, to become the exclusive wholesaler of a specialty pharmaceutical product of Lilly currently in development { the" Product" }. " Thanks to the investigatory skills of squetch, Andy, Henry, et al, we think it is the Seragen compound {to which Lilly has the cancer rights} for CTCL. " If, not later than Dec. 15, 1998, the Product is disapproved by the FDA and Lilly terminates its collaboration with the Issuer {LGND} concerning the Issuer's product Targretin, the Issuer may terminate and relinquish its interest in the Product and thereafter Lilly shall purchase $5,000,00 of Common Stock, at the average closing price of the shares for the twenty trading days immediately preceding the date which is five days prior to the Issuer's notice of termination . If the Product fails to achieve a specified minimum average pricing level for a six- month period after introduction into the market, the Issuer may terminate and relinquish its interest in the Product, and thereafter Lilly shall purchase $5,000,000 of the Common Stock from the Issuer at the average closing price of the Common Stock for the 20 trading days preceding the date which is five days before the Issuer's notice of termination." Bernie.

To: Flagrante Delictu who wrote (15558)	2/21/1998 10:37:00 AM
From: bluejeans	Read Replies (2) \| Respond to of 32384

Hello Bernie, edgar-online.com 13 D filing on Dec 5, item 4 , starts at page 3 edit:now i get to this spot and you have already found it and begun to read it. look at item 4,(iii) about having to relinquish Targretin.