Corporate Profile for Ligand Pharmaceuticals Incorporated, dated Fri. July 14, 2000.

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Published Date:   July 14, 2000

Company Name:     Ligand Pharmaceuticals Incorporated

Address:          10275 Science Center Drive
                  San Diego, CA 92121

Main Telephone
 Number:          858/550-7500

Internet Home
 Page Address
  (URL)           www.ligand.com

Chief Executive
 Officer:         David E. Robinson

Chief Financial
 Officer:         Paul V. Maier

Investor Relations
 Contact:         Christiane V. Sheid
 Business number: 858/550-7809
 E-mail address:  [e-mail]

Industry:         Biotechnology/Pharmaceuticals

Trading Symbol/
 Exchange:        Nasdaq:LGND

Market Makers:  Mayer & Schweitzer Inc., Knight Securities, Merrill
Lynch, Pierce, Fenner

Company description: Ligand Pharmaceuticals (NASDAQ:LGND) is a biopharmaceutical company committed to the discovery, development and commercialization of novel small molecule pharmaceutical products which improve the treatment, care and quality of life of patients.

Ligand is building a specialty pharmaceutical company in cancer and important niches of men's and women's health. Ligand has four FDA-approved products.

-- Approved in February 1999, ONTAK(R), the first new treatment

for cutaneous t-cell lymphoma (CTCL) in almost 10 years, was

the flagship product of Seragen Inc., which Ligand acquired in

1998. ONTAK is also in Phase II clinical trials for the

treatment of non-Hodgkin's lymphoma, and has been shown to be

active (effective) in treating patients with severe psoriasis.

-- Targretin(R) capsules therapy was approved in December 1999

for the treatment of patients with CTCL who are refractory to

at least one prior systemic therapy. Targretin capsules is

also in Phase II clinical trials for the treatment of

psoriasis (moderate to severe) and breast cancer.

-- Targretin(R) gel was approved in June 2000 for treatment of

cutaneous lesions in patients with CTCL who have refractory or

persistent disease after other therapies or who have not

tolerated other therapies.

-- Panretin(R) gel, the first approved topical treatment for

AIDS-related Kaposi's sarcoma (KS) was approved in February

1999. Phase II clinical trials for Panretin capsules for the

treatment of AIDS-related KS have been completed.

During 1998, Ligand licensed from Elan Corporation the U.S. and Canadian marketing rights to Morphelan(TM), the first once-daily oral morphine formulation, for which Elan filed an NDA in June 2000.

Ligand has entered into collaborations with major pharmaceutical companies, including Abbott, Allergan, Wyeth-Ayerst, Glaxo Wellcome, Lilly, Organon, Parke-Davis, Pfizer, and SmithKline Beecham. These relationships have resulted in three selective estrogen receptor modulators (SERMs) moving onto human development track for the treatment of breast cancer (ERA-923) and osteoporosis (TSE-424 and lasofoxifene), two PPARs moving onto human development track for cardiovascular disease, and such discoveries as the first non-peptide small molecule that mimics the activity of Granulocyte-Colony Stimulating Factor (G-CSF), a natural hormone that stimulates production of infection-fighting neutrophils (a type of white blood cell).

Ligand also licenses other companies to market its products in selected international markets, where Ligand does not plan to build its own marketing infrastucture. In March 1999, Ferrer Internacional, SA, entered into such an agreement to market and distribute in Spain, Portugal, Greece and Central and South America Ligand's five approved or near-term products: ONTAK, Panretin gel, Panretin capsules, Targretin gel and Targretin capsules. In January 2000, a similar agreement was entered into with Alfa Wassermann for marketing and distribution in Italy. Ligand's proprietary drug discovery and development programs are based on its leadership position in gene transcription technology. Ligand researches and develops two natural mechanisms that regulate gene activity to enhance therapeutic and safety profiles of patients: (1) Intracellular Receptors (IRs) and (2) activated Signal Transducers and Activators of Transcription (STATs) technology.