Ligand Pharma (LGND) Sells Promacta Assets and Royalty for $827 Million
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Ligand Sells Promacta Assets and Royalty for $827 Million
March 5, 2019 4:01 PM ESTUpdates 2019 full-year financial guidance
Conference call with slides to be held today at 5:00 p.m. Eastern time
SAN DIEGO & NEW YORK--(BUSINESS WIRE)-- Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) and Royalty Pharma announce the sale of Ligands Promacta®-related intellectual property rights licensed to Novartis, including the royalty stream on worldwide net sales of Promacta to Royalty Pharma for $827 million in cash. Promacta (eltrombopag) is known as Revolade® outside the U.S. and is marketed worldwide by Novartis. This transaction is expected to close on Wednesday, March 6,... More
