GSK/Ligand's Promacta to get FDA priority review

UK drug major GlaxoSmithKline says that the US Food and Drug Administration has granted a priority review for Promacta (eltrombopag) for the short-term treatment of patients with chronic idiopathic thrombocytopenic purpura. The investigational, once-daily oral treatment induces the production of cells in the bone marrow to generate platelets, which are critical in minimizing the incidence of bleeding in chronic ITP. If approved, the agent, which was developed as part of an R&D accord with US drugmaker Ligand, would be the first oral thrombopoeitin receptor agonist for the short-term treatment of previously-treated patients with chronic ITP to increase platelet counts and reduce bleeding. Lehman Brothers analysts attributed to GSK a net present value for Promacta of 17 pence per share based on potential launches in ITP and hepatitis C.