Ligand earns $2M eltrombopag milestone from GSK

l The USA's Ligand Pharmaceuticals has earned a $2.0 million milestone from UK drug major GlaxoSmithKline as the latter has commenced Phase III trials of their drug candidate eltrombopag (SB497115) in adult patients with previously-treated idiopathic thrombocytopenic purpura. The agent is a small-molecule oral platelet growth factor which stimulates the proliferation and differentiation of bone marrow cells that mature into blood platelets, which are depleted in those suffering from ITP leading to episodes of spontaneous bruising, mucosal bleeding and, in severe cases, intracranial hemorrhage. If the drug is ultimately approved and marketed, Ligand could receive double-digit royalties on product sales.