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

To: Mudcat who wrote (19099)	4/16/1998 11:19:00 AM
From: Henry Niman	Respond to of 32384

Mudcat, This is out of my area and I haven't read the entire LLY deal, but I would assume that the Systemic products would be only for Targretin and would apply to areas other than oncology or dermatology. Thus, if a third party wanted to develop Targretin for treating something like cardiovascular disease, then the third party could get a license, run the trial, get Targretin approved for that indication, but use LLY's sale force to sell the drug because LLY would probably already be selling the drug for treatment of diabetes. This would be for Targretin only, and would not apply to other compounds, such as Panretin. It is my understanding that LGND plans to have a modest (12 sales persons and a head) sales force in the US to sell topical Panretin, and a similar sales force in place in Europe when Panretin is approved for sale there. I suspect that such a sales force would grow as additional products are approved for cancer or dermatology. Other products developed by partners would be sold by the partner's sales force or a licensee's sales force (for other indications - for most of the deals, LGND can license back products for oncology and I suspect that such oncology products would be sold by LGND's sales force).

To: Mudcat who wrote (19099)	4/17/1998 7:13:00 AM
From: Henry Niman	Respond to of 32384

Mudcat, Just received the new annual report and it addresses the size of LGND's sales force. "Ligand believes a sales force of 22 oncology sales specialists will be sufficient to launch the first product, and 35 should be adequate for the first four or five oncology products in the U.S. Similar numbers are projected for Europe."