what does the lgnd cvr to pcop have to do with the dara pain drug.
When LGND acquired PCOP, PCOP shareholders got a CVR that was tied to the partnering of the DARA drug. As acgood notes, it doesn't seem likely to pay off but I also don't recall it being that valuable either if the terms were met and it paid off. I also seem to recall one of the stipulations from the CVR being that it would not pay off if the DARA drug was partnered to BMY. I took that as BMY being the most likely partner for the drug and LGND just being cheap and not wanting to have to make payment on the CVR. (I agree with ghmm that LGND management is cheap when it comes to their acquisitions. lol)
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