Ligand Pharma to Acquire APEIRON Biologics AG for $100M, Expects 2024 Revenue of $140M-$157M (Prior $130M-$142M) Vs $137.79M Est, 2024 Adj EPS of $5.00-$5.50 (Prior $4.25-$4.75) Vs $4.64 Est
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Ligand Pharmaceuticals (NASDAQ:LGND) announced the acquisition of APEIRON Biologics AG for $100 million, with additional payments based on future milestones. The acquisition is expected to boost Ligand's 2024 revenue and EPS guidance. The transaction is set to close in July 2024.
July 08, 2024 | 11:08 am
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Ligand Pharmaceuticals is acquiring APEIRON Biologics AG for $100 million, which is expected to be immediately accretive to earnings and increase 2024 revenue and EPS guidance.
The acquisition of APEIRON Biologics AG is expected to be immediately accretive to Ligand's earnings by approximately $1.00 per share annually. The company has also raised its 2024 revenue and EPS guidance, indicating a positive financial impact. The transaction is expected to close in July 2024, providing a clear timeline for investors.
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