Ligand Gets $1M From Merck

San Diego-based Ligand Pharmaceuticals reported this morning that it has earned a $1M, milestone payment related to the licensing of its technology to Merck. Ligand said that the payment game due to the U.S. Food and Drug Administration's approval of Merck's NOXAFIL (posaconazole) injection (18 mg/mL). Ligand said it will sell its Captisol formulation to Merck for the new product, under a commercial supply agreement. The compound i s being used for the treatment of invasive fungal infections in patients who are severely immunocompromised.