Ligand to acquire Pharmacopeia in attempt to end down-turn
This article was originally published in Scrip
Executive Summary
Ligand Pharmaceuticals is to acquire Pharmacopeiain a $55 million stock-for-stock exchange deal. Pharmacopeia stockholders will also receive contingent value rights (CVRs) under which they could receive a total $15 million cash payment if Ligand chooses to license, develop or market a compound from its dual-acting angiotensin and endothelin receptor antagonist programme (DARA) by December 31dt, 2011.