TABLE OF CONTENTS COMPANY OVERVIEW AND KEY FACTS MERGERS & ACQUISITIONS --Mergers and Acquisitions – Overview --Mergers and Acquisitions – Deal reports PARTNERSHIP --Partnership – Overview --Partnership – Deal reports CAPITAL RAISING --Capital Raising – Overview --Capital Raising – Deal reports --Divestments – Deal reports APPENDIX --About Datamonitor Financial Deals Database --Deal Definition and Methodology --About Datamonitor --Datamonitor Professional Services Knowledge Center LIST OF TABLES --Ligand Pharmaceuticals activity by deal type – volume (2011 -YTD2015) --Ligand Pharmaceuticals M&A average deal size – value ($m) (2011 -YTD2015) --Ligand Pharmaceuticals legal advisor ranking by value ($m) --Ligand Pharmaceuticals financial advisor ranking by value ($m) --Top Deals(2011 -YTD2015) --Ligand Pharmaceuticals targets and partners (2011 -YTD2015) --Ligand Pharmaceuticals M&A volume and value trend (2011-YTD2015) --Ligand Pharmaceuticals M&A activity by geography (2011-YTD2015) --Ligand Pharmaceuticals partnership volume and value trend (2011-YTD2015) --Ligand Pharmaceuticals partnership trend by key deal type (2011-YTD2015) --Ligand Pharmaceuticals capital raising volume and value trend (2011-YTD2015) --Ligand Pharmaceuticals capital raising by deal type (2011-YTD2015) LIST OF FIGURES --Ligand Pharmaceuticals activity by deal type - volume (2011-YTD2015) --Ligand Pharmaceuticals M&A average deal size - value ($m) --Ligand Pharmaceuticals M&A volume and value trend (2011-YTD2015) --Ligand Pharmaceuticals M&A activity by geography (2011-YTD2015) --Ligand Pharmaceuticals partnership volume and value trend (2011-YTD2015) --Ligand Pharmaceuticals partnership trend by key deal type (2011-YTD2015) --Ligand Pharmaceuticals capital raising volume and value trend (2011-YTD2015) --Ligand Pharmaceuticals capital raising by deal type (2011-YTD2015)

Ligand Pharmaceuticals, Inc.