Ligand to benefit from Onyx/ Amgen deal: Roth Capital Partners


Roth Capital Partners doesn't want investors to forget that Kyprolis — the multiple myeloma drug at the center of Amgen's (AMGN) deal for Onyx (ONXX) — is a moneymaker for Ligand Pharmaceuticals (LGND +1.1%) which receives tiered royalties tied to the use of Captisol technology in the drug.

LGND gets 3% above $750M in Kyprolis sales, Roth notes, adding that "based on current Wall Street estimates ... the 3.0% level will be reached in the next 24 months at the minimum."

Kyprolis' potential will now be backed by AMGN's "juggernaut sales and marketing efforts," Roth says.

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  • 12100131
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    Gee, what will Irina and Cantor have to say about that $37 PT anyone? Wonder if they are still selling their Ligand shares!
    29 Aug 2013, 01:51 AM Reply Like
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