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Ligand Pharmaceuticals Inc. (LGND) to Receive $2 Million Milestone Payment From Merck & Co., Inc. (MRK) Triggered by Initiation of Phase 2b/3 Trial of Dinaciclib  
10/22/2012 9:36:01 AM

SAN DIEGO--(BUSINESS WIRE)--Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) today announced that it will receive a $2 million milestone payment from Merck, known as MSD outside the United States and Canada, under the terms of a development and license collaboration for the development of dinaciclib. This milestone payment is triggered by the initiation of a Phase 2b/3 adaptive clinical trial for dinaciclib for the treatment of patients with refractory chronic lymphocytic leukemia (CLL).