SAN DIEGO--(BUSINESS WIRE)--Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) (the “Company” or “Ligand”) today announced that it has given notice of redemption to the noteholders of its 6% convertible subordinated notes due November 2007. The redemption date of the Notes has been set for November 29, 2006. Approximately $128.15 million of principal amount of the notes remains outstanding and may be converted into common stock at a rate of 161.9905 shares per $1,000 (about $6.17 per share).
