SAN DIEGO (AP) – Ligand Pharmaceuticals Inc. said that partner GlaxoSmithKline gained European regulatory approval to sell the blood disorder drug Revolade.
In December, a European advisory committee recommended approving the drug. It was discovered by Ligand, is already approved in the U.S. as Promacta. Ligand’s licensing partner GlaxoSmithKline handled the European application.
Thrombocytopenia purpura is rare blood condition that involves low platelet counts, making it more difficult for blood to clot.
Shares of Ligand rose 3 cents to $1.71 in afternoon trading. GlaxoSmithKline shares fell 14 cents to $37.73.
Date: March 12, 2010
Source: Associated Press