Ligand to Receive Milestone and Royalties as Result of FDA Approval of Sage Therapeutics’ ZULRESSO™ (brexanolone) Injection

ZULRESSO is the first and only treatment specifically indicated for
postpartum depression

SAN DIEGO–(BUSINESS WIRE)–Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) announced that
it will receive a $3 million milestone payment as a result of the U.S.
Food and Drug Administration’s (FDA) approval of Sage Therapeutics’
(NASDAQ: SAGE) ZULRESSO^TM (brexanolone) injection for the
treatment of postpartum depression (PPD). ZULRESSO uses Ligand’s Captisol^®
in its formulation. Ligand is also eligible to receive a royalty on
sales of ZULRESSO in the U.S.

ZULRESSO is the first and only medicine specifically approved to treat
PPD, the most common medical complication of childbirth. ZULRESSO is
expected to be available in late June following scheduling by the U.S.
Drug Enforcement Administration, which is expected to occur within 90
days.

PPD can affect women during pregnancy or after childbirth. It is
estimated PPD affects approximately one in nine women who have given
birth in the U.S. Symptoms may include sadness, anxiety, irritability,
withdrawing from friends or family, having trouble bonding with her baby
and thinking about harming herself or more rarely, her baby. Without
proper screening, up to half of PPD cases may go undiagnosed.