Ligand
Pharmaceuticals Incorporated (Nasdaq: LGND) announces the $1.8 million sale
of its combinatorial chemical library and associated proprietary technology to
Venenum Biodesign, LLC.
Under the terms of the agreement, Ligand will
receive $1 million at the close of the transaction, $800,000 over the next two
years and 10% of all revenues from third party collaborations for three years.
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LaSalle
Hotel Properties (NYSE: LHO) announces that $94.5 million acquisition of
a leasehold interest in Hotel Roger Williams.
About $0.5 million will be recognized as
transaction expenses during the fourth quarter of 2010.
The ACE
Group (NYSE: ACE) announced that they have signed an agreement for the $200 million
acquisition of Jerneh Insurance Berhad.
Jerneh Insurance Berhad is a general
insurance agency in Malaysia.
The transaction is expected to close in Q410.
The addition of Jerneh will be accretive to
ACE’s earnings and book value per share and is expected to meet ACE’s
return-on-capital hurdle rate, as noted earlier.
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InterMune,
Inc. (Nasdaq: ITMN) announced that they have sold danoprevir worldwide development
and commercialization rights to Hoffman-La Roche Inc. and F. Hoffman-La Roche
Ltd.
Sales price on the transaction was $175
million in cash.
In connection with this transaction, the
collaboration agreement that InterMune and Roche entered into in October 2006
has been terminated.
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