Navigate the Ligand Pharmaceuticals, Inc. ($LGND) Stock Research Pages
- Introduction (valuation, financials, ownership, guidance, helpful links)
- Promacta (eltrombopag) (key asset licensed to GSK - platelet booster for many thrombocytopenia conditions)
- Kyprolis (carfilzomib) (key asset licensed to Amgen - developed by ONXX for multiple myeloma)
- Other Marketed Products (description of assets currently generating royalty revenue)
- Late-stage Pipeline Assets (generally partnered and developed at little to no cost to LGND and represent future royalty sources)
- Early-stage Development Programs (internal and partnered, future "shots on goal" or out-licensing opportunities)
- Acquisitions (Cydex, Metabasis ($MBRX), Pharmacopeia ($PCOP), Neurogen ($NRGN) - complete terms and details)
- Captisol-Cydex (additional info on the formulation technology acquired in 2011 and details on partnerships)
- Discontinued Programs (with >90 biotech and pharma assets in development, not everything works out!)
Ligand $LGND Marketed Products Producing Royalties
Avinza for pain
Status: Marketed and Royalty-producing Source: internal Ligand
- Avinza: morphine product licensed to King Pharma $KG (now PFE)
- Sold in 2007 for $280m but still get royalties thru 2017 paid once/yr (5% if <200m sales, if >, 10% up to 250 then 15%). Sales declining due to generic competition
- Formulation patent expires 11/2017 but generic applications have been filed as of 10/2007 w/ paragraph IV challenge (Actavis and later Sandoz), KG has sued. 3/2010: claims construction hearing, 12/2010 discovery ends
- 2010 10k: Actavis trial starts 3/7/2011. PFE 1q2011 10q: Trial was completed in March and awaiting court's decision.
- 2010 10k: Sandoz trial expected 2h2011
Viviant/Conbriza for osteoporosis
Status: Marketed ex-US w/ royalties starting 1q2011, US in regulatory limbo Source: internal Ligand
- SERM for osteoporosis fracture prevention and breast/uterine protection
- licensed to PFE, NDA submitted 6/2006, rec'd FDA CRLs 4/2007 and 12/2007 for prevention of post-menopausal osteoporosis and 5/2008 for tx, 2/2008 notified to expect advisory panel for both indications.
- 4/2009 approved EU, 7/2010 approved japan for postmenopausal osteoporosis- 10/2010 launched Japan and Spain.
- Royalties will commence 1q2011 0.5% (<400m) to 2.5% (>1B)- already sold 3% royalty stream for 1st 10 yrs.
- This represents the third legacy Ligand drug to earn royalties in 2011
- PFE also had its own SERM- will it market both?
- 10/2010: US NDA is under review- but PFE Aprela is bigger focus and better chance of approval- then after could seek single agent approval too
Nexterone
Status: Marketed Source: Cydex
- branded version of active ingredient amiodarone is Cordarone for life-threatening recurrent ventricular arrhythmia in pts nonresponsive/ intolerant to other therapies- required solvent causes blood pressure decrease)
- Approved forms include vials, prefilled syringes, and ready-to-use premixed bags
- LGND product is Captisol-enabled solvent-free IV formulation (premixed preparation- more convenient and has 2 year shelf life at room temperature)
- FDA approved 11/2010 and will launch 1q11, partnered with Prism 2007, NDA filed 2008 and launch near term.
- 4/2011: Prism acquired by Baxter for $170m upfront and $168m in future sales-based milestones - click for PR.
- Baxter had previously been selected as the contract manufacturer of the ready-to-use premixed IV bags and prefilled syringes
- 6/2011: product launched by Baxter in US market - click for PR.
- A different co-solvent free formulation approved late 2008-abandoned?
- combo patent expires 5/4/2022 (2010 10k and 1q2011 10q).
- 2010 10k: expect 2011 launch and royalties, get royalties thru 2029
Abilify
Status: Marketed Source: Cydex
- intramuscular (IM) formulation only
- marketed by Bristol Meyers Squibb $BMS for bipolar disorder in US and Europe ($707m sales each 4q10 and 4q09; $2.6B each 2010 and 2009).
- IM launched 12/2006 - don't know what portion of the market this represents.
- US royalty term expired 2010, ROW starting 2011
Vfend
Status: Marketed Source: Cydex
- intravenous (IV) formulation only
- anti-fungal marketed by PFE in US, Europe, Japan ($230m sales 4q10, 243m 4q09; 825m 2010, 798m 2009).
- US royalty term expired 2010, ROW starting 2011.
- Has minimum qtrly royalty- still ongoing or no?
- 2/15/2011 webcast: used to get royalties, now generic (I assume referring specifically to US market)
Cerenia
Status: Marketed Source: Cydex
- marketed by PFE for canine motion sickness in US, Europe (sales??).
- US royalty term expired 2010, ROW starting 2011
Geodon
Status: Marketed Source: Cydex
- IV formulation only
- marketed by PFE for schizophrenia in US, Europe ($264m 4q10, 289m 4q09; 1.0B each year).
- US royalty term expired 2010, ROW starting 2011