Ligand Pharmaceuticals Acquires Xoma Royalty for $739 Million
Ligand Pharmaceuticals has agreed to acquire Xoma Royalty Corporation for $739 million in an all-cash deal, expanding its royalty portfolio to over 200 assets. The acquisition includes royalty interests in several drug candidates and commercial products, with Xoma shareholders receiving a contingent value right tied to litigation proceeds. Ligand's stock rose 3.9% in premarket trading following the announcement.
Topics: acquisition corporate strategy pharmaceuticals royalty interests