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

To: scaram(o)uche who wrote (22351)	6/16/1998 8:37:00 PM
From: tommysdad	Read Replies (1) \| Respond to of 32384

Ouch. That one left a mark.

To: scaram(o)uche who wrote (22351)	6/16/1998 11:55:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

As far as I know, the IL-2 license was to establish contacts for clinical trials. The sales force consisted of 3 people. I do not think that LGND expected significant revenues.

To: scaram(o)uche who wrote (22351)	6/17/1998 12:06:00 AM
From: Henry Niman	Respond to of 32384

Here's the original press release. Note that even CHIR talked about LGND establishing a marketing and sales force, not generating significant income: Ligand to market and sell Chiron's Proleukin in Canada -- HPB approved 9/15/94 SAN DIEGO (Sept. 28) BUSINESS WIRE -Sept. 28, 1994--Ligand Pharmaceuticals Inc. (NASDAQ:LGNDA) and Chiron Corp. (NASDAQ:CHIR) announced Wednesday that they have entered into an agreement under which Ligand exclusively will market and sell throughout Canada Proleukin (Aldesleukin) (human recombinant interleukin-2 product), a genetically engineered protein, for the treatment of metastatic renal cell carcinoma, also known as metastatic kidney cancer. The two companies also announced that Canada's Health Protection Branch (HPB) approved the drug Sept. 15. Its licensure there follows licensing in the United States and in several European countries. According to the terms of the agreement, Chiron will manufacture Proleukin and Ligand will have exclusive distribution, marketing and selling rights to the product in Canada for a period of five years, during which time Ligand will receive a direct percentage of profit on all Canadian sales. Ligand also will receive residuals on a percentage of the sales in the years 2000 and 2001. Ligand paid an initial fee to Chiron on execution of the agreement. "We are pleased to secure from Chiron the exclusive rights to Proleukin in Canada from a field that included several companies with established Canadian marketing operations," said James R. Mirto, Ligand vice president of new product development and licensing. "Proleukin is an excellent proprietary, high value-added product around which to begin our commercialization strategy." Ligand has a commercialization strategy to aggressively seek and acquire products for its oncological market niche. The company is committed to building specialty pharmaceutical oncology operating units focused on NAFTA region markets: the United States, Canada and Mexico. "Proleukin is an important product for Chiron, and Canada represents a significant market opportunity," said Edward Kenney, vice president, sales and marketing, of Chiron Therapeutics. "We selected Ligand to market Proleukin because of their commitment to establish a marketing and sales organization in Canada and our belief that they will be the most effective group selling our product in this market." Chiron Corp. is a biotechnology company headquartered in Emeryville, Calif. Chiron is building a healthcare business that addresses needs in several markets: diagnostics, including immunodiagnostics and new quantitative tests based on nucleic acid probe technology; adult and pediatric vaccines; therapeutics, with an emphasis on oncology, serious infectious diseases and other diseases requiring critical care; and ophthalmology. Ligand Pharmaceuticals Inc., founded in 1987, is a leader in gene transcription technology, particularly intracellular receptor (IR) technology and Signal Transducers and Activators of Transcription (STATs). Ligand applies IR and STATs technology to the discovery and development of small molecule drugs to enhance therapeutic and safety profiles and to address major unmet patient needs in cancer, women's health and skin diseases, as well as osteoporosis, cardiovascular and inflammatory disease. --30--cmf/sf* ik/sf CONTACT: Chiron Corp., Emeryville Larry Kurtz, 510/601-2476 Ligand Pharmaceuticals Inc., San Diego Susan Atkins, 619/550-7687 KEYWORD: CALIFORNIA INDUSTRY KEYWORD: MEDICINE PHARMACEUTICAL PRODUCT REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 800-225-2030; SF 415-986-4422 or 800-227-0845; LA 310-820-9473 End of Report

To: scaram(o)uche who wrote (22351)	6/17/1998 12:08:00 AM
From: Henry Niman	Respond to of 32384

Here's the Rueter's story. Note that no numbers are given (not the amount of the fee or the rate of return to LGND): Chiron (CHIR.O), LIGAND (LGNDA.O)in marketing pact SAN DIEGO, Calif, Sept 28 (Reuter) - Chiron Corp and Ligand Pharmaceuticals Inc said they had entered into an agreement for Ligand to exclusively market and sell throughout Canada Chiron's Proleukin drug. It said the agreement follows approval for the drug in Canada by the Health Protection Branch. They said the agreement will be for five years and that Ligand will receive a direct percentage of profits from all Canadian sales. Proleukin is a genetically engineered protein for the treatment of metastatic renal cell carcinoma, also known as metastatic kidney canc Ligand said it also will receive residuals on a percentage of the sales in the years 2000 and 2001. Ligand said it paid an unspecified initial fee to Chiron on execution of the agreement. REUTER Rtr 17:00 09-28-94 orp End of Report