SAN DIEGO--(BUSINESS WIRE)--Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) today announced that it has earned $1 million commercial milestone payment from Onyx Pharmaceuticals (a subsidiary of Amgen, Inc.). The milestone payment was triggered by the achievement of over $250 million of annual product sales of Kyprolis in 2013. Ligand will recognize the $1 million payment in the first quarter of 2014, consistent with the Company’s revenue recognition policy. Ligand receives royalties for Kyprolis and is eligible to receive additional commercial and regulatory milestones.
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