Ligand finalizes sale of oncology line to Eisai

San Diego, USA-based Ligand Pharmaceuticals says it has completed the sale of its oncology product line to Japanese drug major Eisai and its US subsidiary Eisai Inc for around $205.0 million in cash. The sale includes Ligand's four marketed oncology drugs: ONTAK (denileukin diftitox); Targretin (bexarotene) capsules; Targretin (bexarotene) gel 1%; and Panretin (alitretinoin) gel 0.1%. In addition, certain Ligand staff are being offered employment by Eisai.

Henry Blissenbach, Ligand's interim chief executive, says the deal brings his firm "significant immediate value, and places the products with a strong company that will serve our oncology patients well."

For its part, Eisai says the four drugs will serve to establish the firm's oncology business as it prepares for the introduction of its own pipeline products, noting that, in the USA, it assumed distribution of the Ligand brands effective October 25.