LIGAND PHARMACEUTICALS INC

Ticker: LGND CUSIP: 53220K504 Class: Common Stock

Essex Woodlands Management, Inc.'s Holding History (CIK: 0001542339)

Note: Option positions (PUT/CALL) are excluded.

Q1 2017

Shares 30,996 Value ($000) $3,281 Avg Close $65.79 Range $59.31 - $68.75

Q4 2016

Shares 32,893 Value ($000) $2,420 Avg Close $63.11 Range $54.59 - $69.14

Q3 2016

Shares 32,893 Value ($000) $2,400 Avg Close $73.42 Range $60.65 - $87.21

Q2 2016

Shares 32,893 Value ($000) $3,923 Avg Close $74.21 Range $66.08 - $82.25

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2017	30,996	$3,281	$65.79	$59.31 - $68.75
Q4 2016	32,893	$2,420	$63.11	$54.59 - $69.14
Q3 2016	32,893	$2,400	$73.42	$60.65 - $87.21
Q2 2016	32,893	$3,923	$74.21	$66.08 - $82.25