H.C. Wainwright analyst Joseph Pantginis says the Promacta franchise remains strong after Ligand Pharmaceuticals (LGND) partner Novartis (NVS) reported Q1 sales Promacta revenue of $257M. The analyst projects 2018 is the year that Promacta officially reaches blockbuster status, or $1B in sales. Further, he points out that Retrophin (RTRX), another Ligand partner, earlier this month announced that the first patient has been enrolled into the Phase 3 Duplex study using sparsentan to treat patients with focal segmental glomerulosclerosis. Pantginis is encouraged by the start of the Phase 3 saying it has the potential to lock in a fixed 9% royalty to Ligand, if approved. He currently project peak sales of $825M but feels the drug could reach blockbuster status based on its first-to-market status. Pantginis keeps a Buy rating on Ligand Pharmaceuticals with a $182 price target.