Ligand Pharmaceuticals’ Post

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Yesterday our longstanding partner Verona Pharma achieved a pivotal milestone with the #FDA approval of Ohtuvayre™, previously known as ensifentrine, the first inhaled product with a novel mechanism of action available for the maintenance treatment of chronic obstructive pulmonary disease (COPD) in more than 20 years. This is a significant step forward for the millions of COPD patients who have sought better treatment options to manage the daily symptoms of this disease. For Ligand this is also an important milestone. It’s the second FDA approval within our royalty portfolio in two weeks, and the eighth regulatory approval since 2023. We have earned a $5.8 million milestone payment upon FDA approval of Ohtuvayre. We will also earn an additional $13.8 million upon the commercial launch of Ohtuvayre, which is expected to occur during the third quarter of 2024, and a low single-digit royalty on worldwide net sales. With Ohtuvayre, we now have 11 key commercial stage products driving our financial performance and a portfolio of more than 100 additional programs at various stages of development. Read our announcement on the Ohtuvayre approval here: https://bit.ly/4cfTk9S

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