Ligand Pharmaceuticals Incorporated

LGND

$287.79

-0.67%

2026-09-04 13:11:59 EDT-$1.95

헬스케어

생명공학

NASDAQ

활발히 거래 중

Ligand Pharmaceuticals Incorporated는 생명공학(바이오제약) 기업으로서, 주로 제약 회사들이 전 세계적으로 새로운 치료 솔루션을 발견하고 개발하려는 노력을 지원할 수 있도록 기술을 발굴·진전시키는 데 ...

LGND 공급망

상류

파운드리, 패키징, 메모리, 웨이퍼, 부품 등 투입 공급업체.

상류

Hovione Farmaciência S.A.

Beta-cyclodextrin chemical suppliers (undisclosed)

Primrose Bio (formerly Pelican Technology Holdings)

Hovione Farmaciência S.A.

Sole third-party contract manufacturer for Captisol (sulfobutylether beta-cyclodextrin). Responsible for all commercial and clinical-scale Captisol production at facilities in Portugal, Ireland, and the US.

Beta-cyclodextrin chemical suppliers (undisclosed)

Suppliers of raw beta-cyclodextrin and sulfobutyl ether reagents used by Hovione in Captisol synthesis. Specific suppliers not publicly disclosed.

Primrose Bio (formerly Pelican Technology Holdings)

Spin-out entity (49.9% owned by Ligand) that holds the Pelican protein expression platform. Provides expression technology services to partners but is a separate private entity post-2023 merger with Primordial Genetics.

하류

생산물을 소화하는 고객, 유통사, OEM 및 판매 채널.

하류

Amgen Inc.

Travere Therapeutics, Inc.

Jazz Pharmaceuticals plc

Gilead Sciences, Inc.

Acrotech Biopharma LLC (Aurobindo Pharma subsidiary)

CASI Pharmaceuticals, Inc.

Merck & Co., Inc.

Pfizer Inc.

Amgen Inc.

NASDAQ:AMGN

Kyprolis (carfilzomib) royalty partner. Ligand receives royalties on global net sales; supplies Captisol for Kyprolis formulation. Kyprolis royalty was ~$35.5M in FY2025. · 8.0%

Travere Therapeutics, Inc.

NASDAQ:TVTX

Filspari (sparsentan) royalty partner. Ligand is entitled to a 9% royalty on worldwide net sales of FILSPARI for IgA nephropathy and FSGS. Full FDA approval for IgAN in Sep 2024 and FSGS in Apr 2026.

Jazz Pharmaceuticals plc

NASDAQ:JAZZ

Rylaze (asparaginase erwinia chrysanthemi-recombinant) royalty partner. Ligand is eligible for tiered low- to mid-single digit royalties and up to $155.5M in milestone payments.

Gilead Sciences, Inc.

NASDAQ:GILD

Captisol commercial supply partner for Veklury (remdesivir, COVID-19 treatment). Extended Captisol supply agreement to September 2030. Major contributor to Captisol revenue during COVID-19 pandemic.

Acrotech Biopharma LLC (Aurobindo Pharma subsidiary)

Commercializes Evomela (melphalan) in the US under license from Ligand. Ligand receives royalties and Captisol material supply revenue. Evomela royalty was ~$5.9M in FY2025. · 1.3%

대체 기업

분석에서 대표로 사용하는 상장 비교 기업 및 모니터링 종목.

대체 기업

Royalty Pharma plc

XOMA Royalty Corporation

DRI Healthcare Trust

Healthcare Royalty plc

Royalty Pharma plc

NASDAQ:RPRX

Largest biopharmaceutical royalty aggregator. Similar business model to Ligand of acquiring royalty interests in approved and late-stage drugs. Direct peer in the royalty monetization space.

XOMA Royalty Corporation

NASDAQ:XOMA

Direct industry peer being acquired by Ligand in 2026. Prior to acquisition, XOMA operated an identical royalty aggregation model focused on biopharmaceutical royalties.

DRI Healthcare Trust

TSX:DHT.U

Canadian royalty trust focused on acquiring pharmaceutical royalties. Comparable royalty aggregation model and asset base to Ligand's royalty portfolio strategy.

Healthcare Royalty plc

Unconfirmed

Private royalty aggregator (formerly HCR). Part of the biopharma royalty investment ecosystem that Ligand operates within. Not publicly listed but a relevant market participant.

지역

공급망을 왜곡할 수 있는 지역별 노출.

지역

Portugal / European Union

China

United States

Hovione Farmaciência S.A.

CASI Pharmaceuticals, Inc.

WuXi Biologics (Cayman) Inc.

GenScript Biotech Corporation

Amgen Inc.

Gilead Sciences, Inc.

Jazz Pharmaceuticals plc

Portugal / European Union

Single-source Captisol manufacturing concentration at Hovione's Portuguese facilities, with secondary sites in Ireland and US. EU regulatory environment, energy costs, and potential supply chain disruptions pose geographic risk.

Hovione Farmaciência S.A.Primary CDMO for Captisol manufacturing with main production in Loures, Portugal

China

Exposure to China regulatory and trade environment via CASI Pharmaceuticals (Evomela commercialization in China) and WuXi Biologics / GenScript (OmniAb license partners). Geopolitical tensions could impact royalty flows.

CASI Pharmaceuticals, Inc.NASDAQ:CASIEvomela commercialization partner for China market

WuXi Biologics (Cayman) Inc.HKEX:2269OmniAb platform licensee

GenScript Biotech CorporationHKEX:1548OmniAb platform licensee

United States

Headquarters and primary business operations in San Diego/Jupiter, FL. Majority of royalty partners (Amgen, Jazz, Gilead, Merck, Pfizer, BMS) are US-based. US regulatory, pricing, and healthcare policy changes directly impact royalty revenue.

Amgen Inc.NASDAQ:AMGNKyprolis royalty partner

Gilead Sciences, Inc.NASDAQ:GILDCaptisol/Veklury partner

Jazz Pharmaceuticals plcNASDAQ:JAZZRylaze royalty partner

집중도

공급망을 왜곡할 수 있는 고객, 공급업체 또는 파트너 집중 노출.

Foundry

Critical

Single-source dependency on Hovione for Captisol manufacturing. Any disruption at Hovione's facilities (regulatory, operational, geopolitical) could severely impact Captisol supply to all partnered programs.

Customer

High

Royalty revenue is concentrated among a few key partnered drugs. Kyprolis (Amgen), Filspari (Travere), Rylaze (Jazz), and Evomela collectively represent a large portion of royalty income. Loss of exclusivity or sales decline in any key drug would materially impact revenue.

Other

Medium

Captisol revenue declined sharply post-COVID (from ~$164M in 2021 to ~$40M in 2025) as Veklury demand normalized. Future Captisol sales depend on new program approvals and volume growth.

Other

Medium

Royalty portfolio is heavily weighted toward oncology (Kyprolis, Evomela, Rylaze, Filspari). A sector-wide downturn in oncology drug pricing or reimbursement could pressure revenues.

매출 구성

대상 기업의 매출 구성이 공급망 영향력과 의존도로 이어지는 방식.

Royalty Revenue

36.4%

$0.2B

Royalties from partnered drugs (Kyprolis/Amgen, Rylaze/Jazz, Filspari/Travere, Evomela/Acrotech, others) represent the largest revenue stream. Dependency on partners' commercial execution and drug sales performance drives revenue stability.

Intangible Royalty Assets

29.9%

$0.1B

Represents amortization/accretion on acquired royalty assets. Grown through acquisitions like XOMA Royalty ($739M deal in 2026), expanding the commercial asset base and diversifying downstream dependency.

Contract Revenue

15.1%

$0.1B

Primarily development services and Captisol clinical supply agreements with pharma partners. Driven by partner R&D pipelines and Captisol demand for clinical-stage programs.

Captisol Material Sales (Core)

9.1%

$0.0B

Directly tied to upstream manufacturing by Hovione (single-source CDMO). Captisol is supplied to commercial partners (Gilead/Veklury, Amgen/Kyprolis, etc.) and clinical-stage programs. Post-COVID decline from 2021 peak ($164M).

Financial Royalty Assets

6.4%

$0.0B

Income from financial royalty assets acquired through milestone/royalty financing deals (e.g., Agenus BOT/BAL $100M deal). Represents synthetic royalty interests.

회사 소개개인정보 처리방침서비스 약관면책 조항종목 디렉터리ETF지수13F 보유 종목목표주가무료 도구기술 지도Slack 참여하기

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Ligand Pharmaceuticals Incorporated

LGND 공급망

상류

Hovione Farmaciência S.A.

Beta-cyclodextrin chemical suppliers (undisclosed)

Primrose Bio (formerly Pelican Technology Holdings)

하류

Amgen Inc.

Travere Therapeutics, Inc.

Jazz Pharmaceuticals plc

Gilead Sciences, Inc.

Acrotech Biopharma LLC (Aurobindo Pharma subsidiary)

CASI Pharmaceuticals, Inc.

Merck & Co., Inc.

Pfizer Inc.

View More

대체 기업

Royalty Pharma plc

XOMA Royalty Corporation

DRI Healthcare Trust

Healthcare Royalty plc

지역

Portugal / European Union

China

United States

LGND 공급망

상류

Hovione Farmaciência S.A.

Beta-cyclodextrin chemical suppliers (undisclosed)

Primrose Bio (formerly Pelican Technology Holdings)

하류

Amgen Inc.

Travere Therapeutics, Inc.

Jazz Pharmaceuticals plc

Gilead Sciences, Inc.

Acrotech Biopharma LLC (Aurobindo Pharma subsidiary)

CASI Pharmaceuticals, Inc.

Merck & Co., Inc.

Pfizer Inc.

View More

대체 기업

Royalty Pharma plc

XOMA Royalty Corporation

DRI Healthcare Trust

Healthcare Royalty plc

지역

Portugal / European Union

China

United States