Issue Date: October 16, 2011
Ligand Licenses Drug To Chiva
Ligand Pharmaceuticals and Chiva Pharmaceuticals, a Chinese biopharmaceutical firm, have entered a global licensing agreement for Fablyn, a selective estrogen receptor modulator approved in the European Union in 2009 for the treatment of osteoporosis in postmenopausal women. Under the terms of the agreement, Ligand will receive $4 million in licensing payments over the next eight months as well as unspecified milestone and royalty payments for worldwide sales of Fablyn. Discovered through a research collaboration between Ligand and Pfizer, Fablyn was developed by Pfizer after approval in the EU. With the acquisition of Wyeth, Pfizer acquired a similar program for osteoporosis, after which Ligand obtained full ownership of Fablyn.
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