"We are pleased to have successfully accelerated and increased the Royalty Pharma SERM option exercise, based on the evolving product development timelines, so that we have certainty of revenue and cash flow from the SERM royalty purchase, enabling us to complete the ONTAK royalty buydown/restructuring which is expected to be accretive in 2005 and beyond without significant reductions in our operating cash reserves," said Paul V. Maier, Ligand’s Senior Vice President and Chief Financial Officer. "Revenue and cash from the SERM royalty purchase in 2004 and recurring royalty income from our retained royalty interest which we expect in the 2005/2006 timeframe - following approval – represent the first royalty streams from our late-stage pipeline of corporate partner products. In addition to Pfizer’s recent NDA filing of lasofoxifene, we also believe Wyeth will proceed to NDA filing for bazedoxifene for prevention of osteoporosis in 2005, for treatment of osteoporosis in 2007, for combination bazedoxifene CE in 2007, and for Tanaproget in 2006. This progress underscores the maturation of our portfolio of eleven 'big drugs' in human development which resulted from our first decade of collaborative research programs and the diversity of potential future royalty income for our shareholders."
At a Glance
Women’s Health (osteoporosis)
NDA has been submitted, awaiting final FDA approval.
Applications In Development:
VIVIANT® (bazedoxifene) is a synthetic drug that was specifically designed to reduce the risk of osteoporotic fractures while at the same time protecting breast and uterine tissue.