Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) announces the signing of a license agreement with Ethicor Pharma Ltd. for the manufacture and distribution of the oral formulation of lasofoxifene in the European Economic Area, Switzerland and the Indian Subcontinent. Under the terms of the agreement, Ligand is entitled to receive potential sales milestones and a double digit royalty on future net sales.
Ethicor plans to supply oral lasofoxifene as an unlicensed medicinal product, which may be requested by healthcare professionals to meet the clinical needs of patients when authorized medicines are unsuitable or contraindicated. In the European Union, there are approximately 37 million women suffering with osteoporosis.
“This agreement with Ethicor represents another potentially valuable shot-on-goal for Ligand, and our second license agreement for lasofoxifene this week,” commented John Higgins, President and Chief Executive Officer of Ligand. “Osteoporosis represents a large unmet medical need for women, and we are pleased that lasofoxifene could potentially provide women with an additional treatment option. We are pleased to be partnered with Ethicor on this important program, and we believe they are uniquely qualified to commercialize this product in this specialized market.”
About Oral LasofoxifeneLasofoxifene is an estrogen partial agonist for osteoporosis treatment and other diseases that was discovered through the research collaboration between Ligand and Pfizer that began in 1991. The oral, 0.5 mg form of lasofoxifene tartrate was developed by Pfizer under the trade name Fablyn ®, and progressed through regulatory approval in the EU. After Pfizer acquired Conbriza ® (bazedoxifene), a similar SERM program, from its acquisition of Wyeth, rights to all forms of lasofoxifene reverted to Ligand in early 2011. Pfizer retains all rights to the Fablyn trademark. About Ethicor Ethicor Pharma Ltd (“Ethicor”) is a specialty pharmaceutical company committed to the development and distribution of unlicensed medicinal products ('specials') on request from healthcare professionals to meet the clinical needs of individual patients when authorized medicines are not a suitable or appropriate treatment option. ‘Specials’ are unlicensed medicines that are produced in limited or medium bulk quantities and are primarily used for the unmet clinical needs of an individual doctor’s patient, particularly where authorized medicines are inappropriate or simply not available. Ethicor is active in markets worldwide excluding the US and has a portfolio of both generic and IP protected unlicensed products. Please visit www.ethicorpharma.com for more information on Ethicor. About Ligand Pharmaceuticals Ligand is a biopharmaceutical company that develops and acquires assets it believes will generate royalty revenues and, under its lean corporate cost structure, produce sustainable profitability. Ligand has a diverse asset portfolio addressing the unmet medical needs of patients for a broad spectrum of diseases including thrombocytopenia, multiple myeloma, diabetes, hepatitis, muscle wasting, dyslipidemia, anemia and osteoporosis. Ligand’s Captisol ® platform technology is a patent-protected, chemically modified cyclodextrin with a structure designed to optimize the solubility and stability of drugs. Ligand has established multiple alliances with the world's leading pharmaceutical companies including GlaxoSmithKline, Onyx Pharmaceuticals, Merck, Pfizer, Baxter International, Bristol-Myers Squibb, Celgene, Lundbeck Inc., Eli Lilly & Co., Spectrum Pharmaceuticals and The Medicines Company. Please visit www.captisol.com for more information on Captisol and www.ligand.com for more information on Ligand. Follow Ligand on Twitter @Ligand_LGND.