Ligand Pharmaceuticals Announces FDA Approval of Ohtuvayre, Increasing Commercial Stage Portfolio to 11 Products; Earns $5.8M Milestone Payment and Anticipates $13.8M Upon Commercial Launch; Entitled to Low Single-Digit Royalty on Global Sales of COPD Treatment
Portfolio Pulse from Benzinga Newsdesk
Ligand Pharmaceuticals has announced FDA approval for Ohtuvayre, a new COPD treatment. This approval increases their commercial stage portfolio to 11 products. Ligand will receive a $5.8M milestone payment and anticipates an additional $13.8M upon the commercial launch. The company is also entitled to low single-digit royalties on global sales.
June 27, 2024 | 12:04 pm
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Ligand Pharmaceuticals received FDA approval for Ohtuvayre, increasing their commercial portfolio to 11 products. They will earn $5.8M now and expect $13.8M upon commercial launch, along with low single-digit royalties on global sales.
The FDA approval of Ohtuvayre is a significant milestone for Ligand Pharmaceuticals, adding to their commercial portfolio and providing immediate and future financial benefits. The milestone payments and anticipated royalties are likely to positively impact the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100