HEALTH

Biotech Firms to Merge: Ligand Pharmaceuticals Inc. and Glycomed Inc. said they will combine operations through a stock swap to bolster development of new products. The two California biotechnology firms said the merged entity is expected to have about $100 million in cash, more than enough funding for four years of product development. Although San Diego-based Ligand will become the parent company, Glycomed will retain its corporate name and operations in Alameda. Ligand, which earlier this week announced a research venture with Britain’s SmithKline Beecham, develops drugs to treat gynecological disorders and certain cancers and cardiovascular, inflammatory and skin diseases. Glycomed is developing drugs to treat corneal ulcers, inflammatory and immune disorders and other ailments.