Ligand Partner GlaxoSmithKline Receives Positive Data from Promacta(R) PIII ENABLE1 Study in Hepatitis C-Related Thrombocytopenia
SAN DIEGO, Jul 26, 2011 (BUSINESS WIRE) -- Ligand Pharmaceuticals Incorporated /quotes/zigman/1626750/quotes/nls/lgnd LGND +0.32% today announced that its partner GlaxoSmithKline /quotes/zigman/146635/quotes/nls/gsk GSK +2.47% has announced that it received positive data from ENABLE-1, the first of two Phase III studies examining Promacta (eltrombopag) in patients with hepatitis C-related thrombocytopenia, and that full data will be released at an upcoming scientific conference.
"We are very pleased with GSK's announcement today about the ENABLE-1 study and we look forward to seeing the full results later this year," said John Higgins, President and Chief Executive Officer of Ligand Pharmaceuticals. "Promacta is a very important program for Ligand, and the expansion of the franchise into this indication could contribute substantial new revenue to Ligand in the coming years," added Mr. Higgins.
Eltrombopag was given accelerated approval by the U.S. Food and Drug Administration (FDA) under the trade name Promacta(R) in November 2008, for the treatment of chronic ITP in adults who have had an insufficient response to corticosteroids, immunoglobulins or surgical removal of the spleen. For more information, including full U.S. prescribing information and boxed warning for hepatoxicity, please visit http://www.promactacares.com/
Eltrombopag is authorized for use in all 27 member states of the European Union, as well as India, Australia, Ireland, Japan, Taiwan, Turkey, Singapore, Kuwait, Chile, Russia and Bahrain under the trade name Revolade(R).
Revolade(R) and Promacta(R) are registered trademarks of the GlaxoSmithKline group of companies.
About Ligand Pharmaceuticals
Ligand is a biopharmaceutical company with a business model of developing or acquiring royalty revenue-generating assets and coupling them to a lean corporate cost structure with the goal of producing sustained profitability. By diversifying the portfolio of assets across numerous technology types, therapeutic areas, drug targets and industry partners, we offer an opportunity to invest in the increasingly complicated and unpredictable pharmaceutical industry. In comparison to our industry peers, we believe Ligand has assembled one of the largest and most diversified asset portfolios in the industry with significant revenue-generating potential. These therapies address the unmet medical needs of patients for a broad spectrum of diseases including hepatitis C, muscle wasting, Alzheimer's disease, dyslipidemia, diabetes, anemia, COPD, asthma, rheumatoid arthritis and osteoporosis. Ligand has established alliances with several of the world's leading pharmaceutical companies including GlaxoSmithKline, The Medicines Company, Pfizer, Bristol-Myers Squibb and AstraZeneca. For more information, please visit www.ligand.com . Follow Ligand on Twitter @Ligand_LGND.