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

To: Torben Noerup Nielsen who wrote (20565)	5/12/1998 6:17:00 AM
From: Henry Niman	Respond to of 32384

Here's what today's WSJ has to say: The Wall Street Journal -- May 12, 1998 Health Brief -- LIGAND PHARMACEUTICALS INC.: Purchase Pacts Are Signed With Seragen, Marathon Ligand Pharmaceuticals Inc. said it signed two agreements to acquire Seragen Inc. for as much as $67 million and to acquire most of the assets of Marathon Biopharmaceuticals LLC for as much as $8 million. Ligand, San Diego, said the acquisitions are aimed at acquiring the global rights to Ontak, an experimental cancer drug. Seragen, Hopkinton, Mass., is developing the drug, which is produced in Marathon's manufacturing plant. Ligand said it also plans to acquire certain rights to Ontak that are held by Eli Lilly & Co. "This is a strategic product acquisition that accelerates our march to profitability," in 1999, said David E. Robinson, Ligand chairman, president and chief executive officer.