Jan 8 2010
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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