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Ligand Pharmaceuticals up 2 Percent on Positive News on Revolade (LGND)

Shares of Ligand Pharmaceuticals Inc (NASDAQ: LGND) are up more than 2 percent Friday after partner GlaxoSmtihKline (NYSE: GSK) announced that the European Medicines Agency’s Committee for Medicinal Products for Human Use recommended that Glaxo’s Revolade be used for treatment in patients with a chronic hepatitis C infection.

“We are very pleased with this latest development as we view Promacta/REVOLADE as an important medicine in this indication, even as the clinical landscape evolves with new potential hepatitis C therapies on the horizon. GSK recently reported increased sales for Promacta in the US, citing growth due to the use in the hepatitis C indication,” commented John Higgins, President and Chief Executive Officer of Ligand. “We congratulate our partners at GSK on this achievement and commend GSK’s global Promacta/REVOLADE team on its continued commitment to bring this medicine to patients in need.”

Revolade, marketed in the United States as Promacta is currently approved for treatment for patients with chronic immune (idiopathic) thrombocytopenia who have had insufficient response to corticosteroids, immunoglobulins, or splenectomy and as a treatment for thrombocytopenia in patients with chronic hepatitis C infection to allow the initiation and maintenance of interferon-based therapy.

[stock-tools exchange="NASDAQ" symbol="LGND" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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