Issue Date: September 29, 2008
Ligand To Acquire Pharmacopeia
Ligand Pharmaceuticals will acquire Pharmacopeia, a small-molecule drug discovery company, in a deal that values Pharmacopeia at up to $70 million. Ligand CEO John L. Higgins calls the deal "a great marriage of biology and chemistry resources." Pharmacopeia has cut its workforce in half in recent months as it seeks to conserve cash and concentrate on later-stage products.
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