Shares of Ligand (NAS: LGND) popped 13% today after its partner GlaxoSmithKline's (NYS: GSK) drug Promacta received an additional indication (an FDA approval) to increase low blood platelet levels in cases of chronic hepatitis C. However, new advances in hepatitis C care are revolutionizing treatment ideas that may take the wind out of Ligand's sails.
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The article FDA Approval Victory a Yawner? originally appeared on Fool.com.
David Williamson has no positions in the stocks mentioned above. Max Macaluso has no positions in the stocks mentioned above. The Motley Fool owns shares of GlaxoSmithKline and Vertex Pharmaceuticals. Motley Fool newsletter services recommend Gilead Sciences, GlaxoSmithKline, and Vertex Pharmaceuticals. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.