Ligand Pharmaceuticals receives $1 million as payment from N. V. Organon

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Jan 8 2010

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Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) announced today that it has received a $1 million milestone payment from N. V. Organon, a subsidiary of Merck & Co., Inc., stemming from its research collaboration that expired on December 31, 2009. The payment is a result of achieving a discovery milestone. In total, Ligand has earned $4 million from this collaboration over the past few months.

Schering-Plough (Merck) Research Collaborations

Pharmacopeia and Organon entered into the collaboration and license agreement in February 2007 to discover, develop and commercialize therapeutic products across a broad range of indications. Ligand assumed responsibility for the collaboration as a result of its acquisition of Pharmacopeia in December 2008.

Source: Ligand Pharmaceuticals Incorporated

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Tags: Anemia, Arthritis, Asthma, Biotechnology, Cell, Hormone, Ligand, Osteoporosis, Pharmaceuticals, Psoriasis, Research, Rheumatoid Arthritis

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