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Ligand wins $2 million milestone payments from NV Organon

Posted on: Fri, 20 Nov 2009 09:52:00 EST

Symbols: MRK, LGND

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Nov 20, 2009 (Datamonitor via COMTEX) --
MRK | Quote | Chart | News | PowerRating -- Ligand Pharmaceuticals has received $2 million in milestone payments from NV Organon, a subsidiary of Merck & Co, stemming from its research collaboration that is due to expire at the end of December 2009.

Ligand discovers and develops new drugs that address critical unmet medical needs of patients with muscle wasting, frailty, hormone-related diseases, osteoporosis, inflammatory diseases, anemia, asthma, rheumatoid arthritis and psoriasis.

John Higgins, president and CEO of Ligand, said: "We have had a long and productive drug discovery relationship with Organon and Schering-Plough (which acquired Organon in November 2007) over the years for a range of research programs. These activities reflect Ligand's strong R&D engine and the potential of our partnership portfolio."

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For full details on Merck & Co (MRK) MRK. Merck & Co (MRK) has Short Term PowerRatings at TradingMarkets. Details on Merck & Co (MRK) Short Term PowerRatings is available at This Link.

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