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EXHIBIT 10.171
AMENDMENT TO OPTION AND WHOLESALE PURCHASE AGREEMENT
This Amendment is executed as of the 23rd day of February, 1998 by and
between Xxx Xxxxx and Company ("Lilly") and Ligand Pharmaceuticals Incorporated
("Ligand").
Whereas, Lilly and Ligand have entered into an Option and Wholesale
Purchase Agreement dated as of November 25, 1997 (the "Agreement"), and
Whereas the parties now desire to amend the Agreement to extend the
period of time pursuant to which Ligand may exercise the Ligand Option (as
defined in the Agreement).
Now, therefore, in consideration of the foregoing, the mutual covenants
set forth below and other consideration, receipt sufficiency of which are hereby
acknowledged, the parties agree as follows:
1. Section 1.1 of the Agreement is hereby amended to read in its
entirety as follows: "Until the later of (a) April 27, 1998, or (b) the date
which is three (3) business days after the date Ligand delivers to Lilly the
notice referred to in Section 1.4 (the "Ligand Option Period"), Ligand shall
have the option (the "Ligand Option") to become Lilly's exclusive wholesaler of
the Products, subject to the terms and conditions contained in this Agreement.
2. All other terms and conditions of the Agreement shall remain in full
force and effect.
3. This Amendment may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one in the same.
LIGAND PHARMACEUTICALS INC. XXX XXXXX AND COMPANY
By: /s/ Xxxxxxx X. Xxxxxxx By: /s/ August X. Xxxxxxxx
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Sr. Vice President, August X. Xxxxxxxx
General Counsel, Government Relations Executive Vice President
Science and Technology
Date: February 28, 1998 Date: February 28, 1998
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