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Ligand posts 4Q profit as charge comes off books
Ligand Pharmaceuticals Inc. said Tuesday it turned a profit in the fourth quarter, compared with a year ago when it booked a hefty acquisition-related charge.Ligand posted a profit of $3 million, or 3 cents per share. In the fourth quarter of 2008, it lost $69.6 million, or 72 cents per share, mostly due to a $72 million charge connected to its purchase of biotechnology company Pharmacopeia.Revenue