Human Genome Sciences and GlaxoSmithKline Announce Positive Results in Second of Two Phase 3 Trials of BENLYSTA in Systemic Lupus Erythematosus

- BENLYSTA (belimumab) 10 mg/kg plus standard of care met its primary efficacy endpoint by achieving a statistically significant improvement in patient response rate versus placebo plus standard of care at Week 52 in BLISS-76 -

- Primary efficacy endpoint met in two pivotal Phase 3 trials, as specified by Special Protocol Assessment agreement with FDA -

ROCKVILLE, Md. & LONDON--(BUSINESS WIRE)--Human Genome Sciences, Inc. (Nasdaq:HGSI ) and GlaxoSmithKline PLC (GSK) today announced that BENLYSTA™ (belimumab) met the primary endpoint in BLISS-76, the second of two pivotal Phase 3 trials in seropositive patients with systemic lupus erythematosus (SLE).

The equity market is still suffering from the investors selling pressure taking profits after better than expected earning reports of the third quarter specially after the weak US broad consuming confidence figure release of October which came down again to 47.7 from 53.1 and it was expected to be 54.3 which can underpin the greenback and persisting of the risk aversion sentiment. Dow was struggling to get above 10000 psycological level again while the greenback has found support across the broad inthese recent few days on the persisting of this risk apitite aversion sentiment which contian the market currently.

The single currency have fallen from 1.50 level yesterday versus the greenback and the Brritish pount which was depressed by the dispointing release of UK Q3 GDP could find support at 1.625 in the beginning of this week but it is still unable to find a sustainable place above 1.64 versus the greenback in spite of today better than expected UK CBI retail sales of October  which came at 8 while the market was waiting for just 5 from just 3 in September.

The British pound has faced difficulties today to catch up with the single currency progress versus the greenback which has been supported today by the equities market falling and the fading of the investors' risk appetite momentum. The cable has fallen below 1.65 after an unchanged retail sales rate of September from August while the market was waiting for a rising by .5% m/m. so the yearly rate was below the market median expectations of 2.7% at 2.4% from 2.1% in August.

The better than expected Intel earning results of the third quarter could increase the pressure on the greenback driving the investors' risk appetite up. These data have released after the closing of Wall Street and Dow future is trading up currently at 9876.

As we have mentioned in our earlier report, the gold is still taking advantage from the bright outlook of the Australian dollar after last week surprising interest rate hike of the RBA by .25% to be 3.25%. The RBA has backed its decision this week to the materialized improving in the current economic conditions which are strongly stimulated by the Chinese growth and demand for the Australian exports which are mainly the raw materials such as the gold. The ties between the Chinese economy and the very rich Australian economy of commodities were working in this direction in the recent decades which could cap it from the negative impacts of the credit crisis in favor of this strong Chinese demand.