Business & Finance

Ligand earns milestone as Wyeth submits new drug application for bazedoxifene for osteoporosis

Published in Women's Health Weekly, July 27th, 2006

Ligand Pharmaceuticals, Inc., (LGND) announced that it has earned from Wyeth (WYE) a milestone payment of an undisclosed amount as a result of Wyeth's confirmation of submission on June 23, 2006, of a new drug application (NDA) to the U.S. Food & Drug Administration for bazedoxifene investigated as a postmenopausal osteoporosis therapy.

Bazedoxifene is a selective estrogen receptor modulator (SERM).

According to the U.S. National Osteoporosis Foundation, as of 2002 8 million American women have osteoporosis and almost 27 million women are estimated to have osteopenia (low bone mass), placing them at increased risk for osteoporosis.

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Source: Women's Health Weekly (2006-07-27)

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