Ligand wins $2 million milestone payments from NV Organon

Ligand Pharmaceuticals has received $2 million in milestone payments from NV Organon, a subsidiary of Merck & Co, stemming from its research collaboration that is due to expire at the end of December 2009.

Ligand discovers and develops new drugs that address critical unmet medical needs of patients with muscle wasting, frailty, hormone-related diseases, osteoporosis, inflammatory diseases, anemia, asthma, rheumatoid arthritis and psoriasis.

John Higgins, president and CEO of Ligand, said: "We have had a long and productive drug discovery relationship with Organon and Schering-Plough (which acquired Organon in November 2007) over the years for a range of research programs. These activities reflect Ligand's strong R&D engine and the potential of our partnership portfolio."

http://www.datamonitor.com
Republication or redistribution, including by framing or similar means,
is expressly prohibited without prior written consent. Datamonitor shall 
not be liable for errors or delays in the content, or for any actions 
taken in reliance thereon

Related terms: anemia, arthritis, asthma, ceo, medical, osteoporosis, partnership, president, research