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Ligand Pharmaceuticals, Inc.
Drug Names(s): WAY 138923, ERA-923
Description: ERA-923 is a selective estrogen receptor modulator (SERM).
Deal Structure: In 1994, Ligand entered into a research and development collaboration with Wyeth-Ayerst Laboratories, the pharmaceutical division of American Home Products (AHP), to discover and develop drugs that interact with ERs or PRs for use in HRT, anti-cancer therapy, gynecological diseases, and central nervous system disorders associated with menopause and fertility control. AHP has since changed its name to Wyeth. Ligand granted Wyeth exclusive worldwide rights to all products discovered in the collaboration that are agonists or antagonists to the PR and ER for application in the fields of women's health and cancer therapy.
In January 2009, Pfizer and Wyeth announced that they entered into a definitive merger agreement under which Pfizer will acquire Wyeth in a cash-and-stock transaction currently valued at $50.19 per share, or a total of approximately $68 billion. In October 2009, Pfizer completed its acquisition of Wyeth.
Partners: Pfizer Inc.
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