EXHIBIT 99.1



        LIGAND ANNOUNCES CHANGES AND ADDITIONS TO THE BOARD OF DIRECTORS

              JOHN W. KOZARICH APPOINTED CHAIRMAN OF THE BOARD

       SAN DIEGO (MARCH 1, 2007) - Ligand Pharmaceuticals Incorporated
(NASDAQ: LGND) today announced the appointment of John L. Higgins,
David M. Knott, Elizabeth M. Greetham and Todd C. Davis to its board of
directors.  Effective March 1, the above appointees will replace:
Irving S. Johnson, Ph.D., a director of Ligand since 1989, Carl C. Peck, M.D.,
a director since 1997, John Groom, a director since 1995, Daniel S. Loeb, a
director since 2005, and Brigette Roberts, a director since 2005.
         In addition, John W. Kozarich, Ph.D., a director since 2003, was named
Chairman of the Board, assuming the position previously held by
Henry F. Blissenbach, who will remain on the board. Dr. Kozarich is President
and Chairman of ActivX Biosciences, a subsidiary of Kyorin Pharmaceuticals, and
is a professor of biotechnology at Scripps Research Institute.
         "We are pleased to have attracted accomplished industry professionals
with diverse backgrounds and expertise to our Board, and I look forward to
working with them. The company will also benefit from the leadership and
experience of Dr. Kozarich in his expanded role as our new Chairman," said John
L. Higgins, President and Chief Executive Officer. "We believe the Board is
configured to represent the best interest of all of our shareholders, and we
look forward to gaining the new members' insight as Ligand continues its
transformation to a highly focused R&D and royalty driven pharmaceutical
company. I would also like to thank those resigning from the Board for their
service and contribution in advancing Ligand to this stage in its development."
         "Now that we have brought outstanding new management and directors into
Ligand, and have successfully repositioned the company, it is no longer
necessary for Third Point to have three board representatives," stated Daniel
Loeb, Chief Executive Officer of Third Point. "We will, however, continue to
have one Third Point representative on the Board, and are delighted that David
Knott, Ligand's largest institutional shareholder, is joining us on the Ligand
Board."



         David M. Knott, 62, is Chief Investment Manager of Knott Partners
Management and Dorset Management, two related hedge fund entities. He was
previously with Mandrakos Associates. Prior to that, Mr. Knott was a broker at
Donaldson Lufkin & Jenrette (DLJ). He received a B.A. in Political Science from
the University of ePennsylvania and an M.B.A. in Finance from the University of
Pennsylvania.
         Elizabeth M. Greetham, 57, is Chief Executive Officer and President of
ACCL Financial Consultants. Prior to ACCL, Ms. Greetham served as both CEO and
CFO of DrugAbuse Sciences and was a portfolio manager at Weiss, Peck & Greer.
Ms. Greetham also serves as a member of the board of directors of publicly
traded King Pharmaceuticals, Inc. Ms. Greetham earned an M.A. with Honors from
the University of Edinburgh in Scotland.
         Todd C. Davis, 46, is a Managing Director of Cowen & Company and a
principal and founder of Cowen Healthcare Royalty Partners. Previously,
Mr. Davis was a partner at Paul Capital Partners, Apax Partners and an
operating executive for Elan Pharmaceuticals and Abbott Laboratories. Mr. Davis
has served on the boards of several public and private companies, including most
recently Verus Pharmaceuticals, Prism Pharmaceuticals, Prometheus Laboratories
and SkinMedica. He holds a B.S. in mathematics from the U.S. Naval Academy and
an M.B.A. from Harvard Business School.

ABOUT LIGAND
         Ligand discovers and develops new drugs that address critical unmet
medical needs of patients in the areas of thrombocytopenia, cancer,
hormone-related diseases, osteoporosis and inflammatory diseases. Ligand's
proprietary drug discovery and development programs are based on its leadership
position in gene transcription technology, primarily related to Intracellular
Receptors.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS
         This news release contains certain forward-looking statements by Ligand
that involve risks and uncertainties and reflect Ligand's judgment as of the
date of this



release. Actual events or results may differ from Ligand's expectations. For
example, we may not receive expected royalties on AVINZA(R) from King
Pharmaceuticals or we may not be able to timely or successfully transform the
Company or advance any product(s) in our pipeline. Additional information
concerning these and other risk factors affecting Ligand's business can be found
in prior press releases as well as in Ligand's public periodic filings with the
Securities and Exchange Commission, which are available at WWW.LIGAND.COM.
Ligand disclaims any intent or obligation to update these forward-looking
statements beyond the date of this release. This caution is made
under the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995.

CONTACTS:
LIGAND PHARMACEUTICALS INCORPORATED               LIPPERT/HEILSHORN & ASSOCIATES
John L. Higgins, President and CEO                Don Markley
or                                                DMARKLEY@LHAI.COM
Erika Luib-De la Cruz, Investor Relations         (310) 691-7100
(858) 550-7896


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