Achillion (ACHN), Vertex (VRTX) Flying On Gilead's (GILD) '7977 Setback

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Vertex Pharmaceuticals (Nasdaq: VRTX) is up 10 percent and Achillion Pharmaceuticals, Inc. (Nasdaq: ACHN) is surging over 20 percent in pre-open trading Friday following a major setback for Gilead Sciences (Nasdaq: GILD) Hep C treatment '7977.

The news is seen as a positive for both, as analysts at Baird explains "The derivative from this update is positive for VRTX, because on the margin it could/should extend Incivek's tail, and for ACHN, because its assets are complementary to nukes, nukes may need help in at least some populations, and uncertainty in the field is good for ACHN."

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