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LGND - Ligand Lupin settle patent case over Evomela
Ligand Pharmaceuticals Incorporated
Ligand Pharmaceuticals' (LGND) CyDex Unit and Lupin have settled a patent lawsuit over CyDex's cancer drug Evomela.Lupin won't sell a generic version of the drug until a date agreed upon by the two companies.Evomela is used in the treatment of multiple myeloma.Ligand receives a 20% royalty from Evomela sales.The case is CyDex Pharmaceuticals Inc. vs. Lupin Ltd., 1:19-cv-2043, U.S. District Court (Delaware).Ligand shares are up 1.3% to $153.03 in morning trading.