Ligand Pharma (LGND) Tops Q1 EPS by 30c

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Go back to Ligand Pharma (LGND) Tops Q1 EPS by 30c

Ligand Pharma (LGND) Acquires Economic Rights to CorMatrix Product Offerigs

May 4, 2016 6:08 AM EDT

Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) announces the acquisition of economic rights to multiple programs owned by CorMatrix. Ligand will pay $17.5 million and in return will receive a portion of revenue (synthetic royalty) from CorMatrixs existing marketed products and will have the right to receive future synthetic royalties from potential future products. CorMatrixs products are medical devices that are designed to permit the development and regrowth of human tissue. This transaction will be immediately accretive to Ligand and represents Ligands entry into the field of medical devices.

Ligand will receive a share... More