LIGAND UPDATES SHAREHOLDER LITIGATION

Ligand Pharmaceuticals Incorporated (Pink Sheets:LGND) announced today that the United States District Court for the Southern District of California has granted the company's motion to dismiss the consolidated federal securities class action litigation against Ligand. The complaints were originally filed in August 2004 and alleged violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10(b)(5). However the Court did grant the plaintiffs leave to file an amended complaint within 30 days that addresses the deficiencies described in the order.

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