Ligand Signs License Agreement with Ethicor for Oral Lasofoxifene
SAN DIEGO--
Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) announces the
signing of a license agreement with Ethicor Pharma Ltd. for the
manufacture and distribution of the oral formulation of lasofoxifene in
the European Economic Area, Switzerland and the Indian Subcontinent.
Under the terms of the agreement, Ligand is entitled to receive
potential sales milestones and a double digit royalty on future net
sales.
Ethicor plans to supply oral lasofoxifene as an unlicensed medicinal
product, which may be requested by healthcare professionals to meet the
clinical needs of patients when authorized medicines are unsuitable or
contraindicated. In the European Union, there are approximately 37
million women suffering with osteoporosis.
“This agreement with Ethicor represents another potentially valuable
shot-on-goal for Ligand, and our second license agreement for
lasofoxifene this week,” commented John Higgins, President and Chief
Executive Officer of Ligand. “Osteoporosis represents a large unmet
medical need for women, and we are pleased that lasofoxifene could
potentially provide women with an additional treatment option. We are
pleased to be partnered with Ethicor on this important program, and we
believe they are uniquely qualified to commercialize this product in
this specialized market.”
About Oral Lasofoxifene
Lasofoxifene is an estrogen partial agonist for osteoporosis treatment
and other diseases that was discovered through the research
collaboration between Ligand and Pfizer that began in 1991. The oral,
0.5 mg form of lasofoxifene tartrate was developed by Pfizer under the
trade name Fablyn®, and progressed through regulatory
approval in the EU. After Pfizer acquired Conbriza® (bazedoxifene),
a similar SERM program, from its acquisition of Wyeth, rights to all
forms of lasofoxifene reverted to Ligand in early 2011. Pfizer retains
all rights to the Fablyn trademark.
About Ethicor
Ethicor Pharma Ltd (“Ethicor”) is a specialty pharmaceutical company
committed to the development and distribution of unlicensed medicinal
products ('specials') on request from healthcare professionals to meet
the clinical needs of individual patients when authorized medicines are
not a suitable or appropriate treatment option. ‘Specials’ are
unlicensed medicines that are produced in limited or medium bulk
quantities and are primarily used for the unmet clinical needs of an
individual doctor’s patient, particularly where authorized medicines are
inappropriate or simply not available. Ethicor is active in markets
worldwide excluding the US and has a portfolio of both generic and IP
protected unlicensed products. Please visit www.ethicorpharma.com
for more information on Ethicor.
About Ligand Pharmaceuticals
Ligand is a biopharmaceutical company that develops and acquires assets
it believes will generate royalty revenues and, under its lean corporate
cost structure, produce sustainable profitability. Ligand has a diverse
asset portfolio addressing the unmet medical needs of patients for a
broad spectrum of diseases including thrombocytopenia, multiple myeloma,
diabetes, hepatitis, muscle wasting, dyslipidemia, anemia and
osteoporosis. Ligand’s Captisol® platform technology is a
patent-protected, chemically modified cyclodextrin with a structure
designed to optimize the solubility and stability of drugs. Ligand has
established multiple alliances with the world's leading pharmaceutical
companies including GlaxoSmithKline, Onyx Pharmaceuticals, Merck,
Pfizer, Baxter International, Bristol-Myers Squibb, Celgene, Lundbeck
Inc., Eli Lilly & Co., Spectrum Pharmaceuticals and The Medicines
Company. Please visit www.captisol.com
for more information on Captisol and www.ligand.com
for more information on Ligand.
Follow Ligand on Twitter @Ligand_LGND.
Forward-Looking Statements
This news release contains forward-looking statements by Ligand that
involve risks and uncertainties and reflect Ligand’s judgment as of the
date of this release. These include statements regarding clinical
development of oral lasofoxifene, market size and possibility of
commercial success in the licensed territory, competitiveness and the
strength of Ligand's product portfolio. Actual events or results may
differ from our expectations. For example, there can be no assurance
that oral lasofoxifene will be successfully marketed as an unlicensed
medicinal product in the licensed territory, that there will be a market
of any size for oral lasofoxifene or that oral lasofoxifene will be
beneficial to patients. The failure to meet expectations with respect to
any of the foregoing matters may have a negative effect on Ligand's
stock price. Additional information concerning these and other risk
factors affecting Ligand's business can be found in prior press releases
available via www.ligand.com
as well as in Ligand's public periodic filings with the Securities and
Exchange Commission at www.sec.gov.
Ligand disclaims any intent or obligation to update these
forward-looking statements beyond the date of this release. This caution
is made under the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995.
Ligand Pharmaceuticals Incorporated
John Higgins, President and CEO
Jennifer
Capuzelo, Investor Relations
858-550-7584
jcapuzelo@ligand.com
or
LHA
Don
Markley, 310-691-7100
dmarkley@lhai.com
Source: Ligand Pharmaceuticals Incorporated
Released July 24, 2013