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

To: John O'Neill who wrote (21348)5/23/1998 11:08:00 AM
From: Flagrante Delictu  Read Replies (1) | Respond to of 32384
 
John O. I think it's that LGND gets the right to sell to LLY, rather than LLY to buy from LGND. I would assume LGND would exercize that right unless the SRGN compound has been approved by 1/30/99. We may need a Philly lawyer to examine all the nuances contained in the filing. Looks like Wm. Ginsberg might soon be released from his duties by the Lewinskys. Maybe a couple bottles of wine might do it for him [ :-) ].
Did you go to the annual meeting ?



To: John O'Neill who wrote (21348)5/23/1998 3:25:00 PM
From: Andreas Helke  Read Replies (1) | Respond to of 32384
 
When Ligand did the Eli Lilly deal they included the option of acquiring Lillys rights to a drug which turned out to be the Seragen drug. Ligand has to pay Lilly for that right - probably with Ligand stock. Ligand had the option to decline to buy those rights. In that case they would have got a equity investment from Lilly at a premium to the market price and a higher royalty rate for one of their retinoids.

Andreas


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