SAN DIEGO--(BUSINESS WIRE)--Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) announced today the completion of the sale of AVINZA® (morphine sulfate extended-release capsules) and associated assets to King Pharmaceuticals, Inc. (NYSE:KG) in exchange for cash and royalties. With the closing of the transaction, Ligand’s remaining commercial operations have transferred to King. Ligand is evaluating methods of returning cash to the shareholders from this and previous asset sales by Ligand.
