Ligand Pharmaceuticals Has Acquired Tolerance Therapeutics For $20M In Cash. Tolerance Therapeutics Is A Holding Company, Owned By The Inventors Of Tzield (Teplizumab), That Is Owed A Royalty Of Less Than 1% On Worldwide Net Sales
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Ligand Pharmaceuticals has acquired Tolerance Therapeutics for $20M in cash. Tolerance Therapeutics is a holding company that is owed a royalty of less than 1% on worldwide net sales of Tzield (Teplizumab), which is marketed by Sanofi. The transaction will be immediately accretive to Ligand's royalty revenue.
November 01, 2023 | 12:06 pm
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POSITIVE IMPACT
Ligand Pharmaceuticals' acquisition of Tolerance Therapeutics will immediately increase its royalty revenue.
The acquisition of Tolerance Therapeutics, which is owed a royalty on the sales of Tzield, will provide Ligand Pharmaceuticals with an additional revenue stream. This is expected to have a positive impact on the company's financial performance, potentially leading to an increase in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Sanofi markets Tzield, the sales of which will now contribute to Ligand Pharmaceuticals' royalty revenue following its acquisition of Tolerance Therapeutics.
Sanofi markets Tzield, and the sales of this drug will now contribute to Ligand Pharmaceuticals' royalty revenue. However, as Sanofi is not directly involved in the transaction, the impact on its stock price is expected to be neutral.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50