Item 8.01 Other Events.

On November 19, 2009, Ligand Pharmaceuticals Incorporated ("Ligand" or the "Company") issued a press release announcing that the Company has earned $2 million in milestone payments from N. V. Organon ("Organon"), a subsidiary of Merck & Co., Inc. ("Merck"), stemming from its research collaboration that is due to expire in December 2009. A copy of this press release is included as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The milestone payment is comprised of two $1 million milestones. The first $1 million milestone is due as a result of Organon declaring one of the research collaboration's advanced programs as a lead program under the terms of a collaboration and license agreement between Organon and Pharmacopeia, Inc. (now Pharmacopeia, LLC), a subsidiary of Ligand. Ligand is eligible to receive additional potential milestones and royalties for this program. The second $1 million milestone was earned by Ligand as a result of Organon deciding to transfer to Organon and acquire outright research being conducted by Ligand for another research program. The research being conducted under the collaboration and license agreement is scheduled to conclude in December 2009.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description
99.1 Press Release of the Company dated November 19, 2009.

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