Ligand, Pfizer cancer, metabolic news

The companies settled a December 1994 lawsuit in which LGND alleged that it was entitled to milestone payments and royalties in connection with the development of Droloxifene, a Pfizer compound now in Phase III trials for breast cancer and Phase II trials for osteoporosis.

Under the settlement, LGND is deemed to have earned a second milestone payment of $350,000 and is expected to receive a further milestone payment of $900,000 on Sept. 1 if the compound continues to be in development for osteoporosis and other indications. ...