Ligand Pharma Inc Roche Contingent Value Rights (LGNDZ)

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Ligand Partner GlaxoSmithKline Receives Positive Data from Promacta® PIII ENABLE1 Study in Hepatitis C-Related Thrombocytopenia

Press Release Source: Ligand Pharmaceuticals Incorporated On Tuesday July 26, 2011, 7:15 am

SAN DIEGO--(BUSINESS WIRE)-- Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - News) today announced that its partner GlaxoSmithKline (NYSE:GSK - News) 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.