SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                 ---------------

                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

        Date of Report (Date of earliest event reported): March 18, 2004

                       LIGAND PHARMACEUTICALS INCORPORATED
             (Exact name of registrant as specified in its charter)

                                    DELAWARE
                 (State or other jurisdiction of incorporation)

                                    000-20720
                            (Commission File Number)

                           10275 SCIENCE CENTER DRIVE,
                              SAN DIEGO, CALIFORNIA
                    (Address of principal executive offices)
            (858) 550-7500 (Registrant's telephone number, including
                                   area code)

                                   77-0160744
                      (I.R.S. Employer Identification No.)

                                   92121-1117
                                   (Zip Code)





Item 5.  Other Events

     On March 16,  2004,  Paul V.  Maier,  our Senior Vice  President  and Chief
Financial  Officer,  entered into a stock selling plan,  intended to qualify for
the safe harbor under Rule 10b5-1 under the Securities  Exchange Act of 1934, as
amended.  Under the plan,  Mr. Maier  authorized the sale of up to 24,938 shares
that were acquired on August 21, 2002 when he exercised an option granted by the
Company.

     Mr. Maier has  informed  the Company  that any sales  pursuant to this plan
will comply with Rule 144. Mr. Maier has  represented to the Company that he had
no knowledge of any material nonpublic information regarding the Company when he
adopted the plan.

     Any  actual  sales  under the plan will be  publicly  disclosed  under Rule
16a-3.




Item 7.  Exhibits



EXHIBIT  NUMBER            DESCRIPTION
                             
99.1                       Trading Plan for Paul V. Maier dated March 16, 2004





                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant has caused this report to be signed on its behalf by the undersigned.


                                     LIGAND PHARMACEUTICALS INCORPORATED


Date :  March 18, 2004               By:      /S/WARNER BROADDUS
                                     Name:    Warner Broaddus
                                     Title:   Vice President,
                                              General Counsel & Secretary