According to reports, GlaxoSmithKline PLC (GSK.US) saw its shares decline more than 5% on Friday, closing at $43.10. The downturn follows an announcement from UBS analysts indicating that GSK received FDA approval for its blood cancer drug Blenrep. This approval marks a positive outcome in a previously uncertain decision; however, the drug's limited indications cast a shadow over the news. UBS noted that the FDA approved Blenrep as a third-line treatment for adult patients who have undergone at least two prior therapies, rather than the preferred second-line treatment GSK was hoping for. Additionally, UBS mentioned that patients would need to undergo ophthalmic examinations before each dose, a disappointing requirement for GSK. "While Blenrep's return to the U.S. market is positive news for GSK, the narrower indication range and rigorous Risk Evaluation and Mitigation Strategy (REMS) may diminish its commercial prospects," the analysts stated.