Human Genome Sciences' (HGSI) Lupus Drug Approved

Human Genome Sciences (NASDAQ:HGSI) had its lupus drug named Benlysta approved by the U.S. Food and Drug Administration; the first lupus drug approval in over 50 years.

Dr. Gary Gilkeson, chairman of the Lupus Foundation of America's medical scientific advisory council, said, "Getting this approval will lead to pharmaceutical companies wanting to continue to push and get other drugs approved."

There are approximatley 5 million people around the globe diagnosed with lupus, which can lead to chest pain, fatigue, skin rash and kidney damage, among other issues.

Side effects from the trials of Benlysta include diarrhea, fever, and nausea.

It is thought the drug should generate billions in sales around the world for Human Genome Sciences.

Now that Benlysta has been approved, hopes are companies like Pfizer (NYSE:PFE) and Eli Lilly (NYSE:LLY) will go forward with some of their development programs for the disease.

GlaxoSmithKline (NYSE:GSK)shares moved up on the news after hours, as they'll distribute it in America, along with Human Genome Sciences.

Human Genome closed Wednesday at $25.68, up $0.01, or 0.04 percent. After hours trading was halted on the company. GlaxoSmithKline traded after hours at $39.50, up $0.92, or 2.38 percent.