Ligand Pharmaceuticals Inc.
) recently joined forces with Azure Biotech for the development
of a novel formulation of lasofoxifene. This novel formulation
targets an underserved market in the field of women's health.
Under this deal, Ligand could receive $2.7 million on the
achievement of future development and regulatory milestones.
Further royalty payments of 5% on future net sales will also be
paid to Ligand.
Lasofoxifene, the result of 1991 research collaboration
between Ligand and
), is anestrogen partial agonist for the treatment of
osteoporosis and other diseases.
Pfizer developed lasofoxifene, an oral lasofoxifene tartrate,
which was approved in the EU in 2009. The trade name was Fablyn.
However, the marketing authorization lapsed because of the
company not being able to launch the drug within the stipulated
timeframe. In early 2011, rights to all forms of lasofoxifene
reverted to Ligand.
We remind investors that Ligand signed a major deal in Mar
2013 by entering into an agreement with
). Following the deal, Spectrum Pharma acquired global
development and commercialization rights to Ligand's
Captisol-enabled, propylene glycol-free (PG-free) melphalan.
Captisol-enabled melphalan is currently being developed as a
conditioning treatment before autologous stem cell transplant for
patients suffering from multiple myeloma.
Ligand will be receiving a license fee, milestone payments and
royalties from Spectrum Pharma following potential
commercialization of the candidate. Spectrum Pharma is now
responsible for the ongoing pivotal clinical study on the
candidate. The company expects to file a New Drug Application
(NDA) with the US Food and Drug Administration (FDA) in the first
half of 2014.
Ligandcarriesa Zacks Rank #3 (Hold). Pfizer and Spectrum
Pharma also carry a Zacks Rank #3. Right now,
) looks well positioned with a Zacks Rank #1 (Strong Buy).
JAZZ PHARMACEUT (JAZZ): Free Stock Analysis
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