AcquisitionsJul 14, 2026, 09:22 AM
Ligand Completes XOMA Royalty Acquisition for $739M
AI Summary
Ligand Pharmaceuticals Incorporated has completed its acquisition of XOMA Royalty Corporation for approximately $739 million in cash, significantly expanding its biopharmaceutical royalty asset portfolio to over 200 assets. The transaction is expected to be immediately accretive, adding $0.50 and $1.50 per share to Ligand's projected 2026 and 2027 adjusted earnings per share, respectively. Concurrently, Ligand entered into an Amended and Restated Credit Agreement, establishing a new $125.0 million revolving credit facility maturing in September 2028.
Key Highlights
- Ligand completed the acquisition of XOMA Royalty for approximately $739 million in cash.
- XOMA Royalty stockholders received $39.00 per share in cash and one non-transferable CVR.
- The acquisition adds seven commercial products and over 100 development and commercial-stage assets.
- Ligand's portfolio now comprises over 200 commercial, clinical, and preclinical stage royalty assets.
- The transaction is expected to be immediately accretive, adding $0.50 to 2026 adjusted EPS.
- It is also expected to add $1.50 to 2027 adjusted EPS.
- Ligand entered into an Amended and Restated Credit Agreement for a $125.0 million revolving credit facility.
- The revolving credit facility matures on September 12, 2028.
Price Impact
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