Ligand Restructures AVINZA License and Supply Agreement.

Business Wire | November 12, 2002 | Copyright

Business Editors & Health/Medical Writers

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SAN DIEGO--(BUSINESS WIRE)--Nov. 12, 2002

Elan to Forego Co-Promotion Option, Manufacture AVINZA for Lower Royalty and Supply Price in Exchange for $100 Million Up-Front Payment

Ligand to Purchase and Retire 2.2 Million Ligand Shares Held by Elan;

Elan Agrees to 6-Month Lock-Up on 11.8 Million Remaining Shares

Ligand Pharmaceuticals (Nasdaq: LGND) announced today it has amended the terms of its AVINZA (morphine sulfate extended-release capsules) license and supply ...

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