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home / news releases / LGND - Ligand down 12% on Promacta rights sale


LGND - Ligand down 12% on Promacta rights sale

  • Investors appear disappointed with Ligand Pharmaceuticals' (LGND -11.6%) agreement to sell its rights to Promacta (eltrombopag) to Royalty Pharma for $827M in cash. The company plans to reinvest the proceeds to acquire assets with long-term revenue streams, fully funded "shots on goal," technology platforms and share buybacks. The transaction should close today.
  • More news on: Ligand Pharmaceuticals Incorporated, Novartis AG, Healthcare stocks news, Stocks on the move,
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Stock Information

Company Name: Ligand Pharmaceuticals Incorporated
Stock Symbol: LGND
Market: NASDAQ
Website: ligand.com

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