Ligand (LGND) Completes Neurogen (NRGN) Acquisition

Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) announced that it has completed the acquisition of Neurogen Corporation (NASDAQ: NRGN), following approval of the transaction by Neurogen stockholders. As a result, Ligand gains a fully funded partnership with Merck & Co., additional pipeline assets, drug discovery resources and additional cash balances.

“This acquisition, our second in the last 12 months, demonstrates our ability to consolidate companies in a way that provides significant potential upside value for shareholders of both firms,” said John L. Higgins, President and Chief Executive Officer of Ligand.