Achillion (ACHN) Shares Slammed, Gilead (GILD), Idenix (IDIX) Rip on New HCV Treatment Data
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Shares of Achillion Pharmaceuticals (Nasdaq: ACHN) are getting hit Thursday following a double whammy on the Hepatitis C front.
Positive data was submitted by Gilead (Nasdaq: GILD) for its GS-7977 plus pegylated interferon (Peg-IFN) and ribavirin (RBV) HCV treatment.
Bristol-Myers Squibb (NYSE: BMY) is in development collaboration with Gilead over GS-7977.
According to one RBC analyst, the combination is the best treatment for GT-1 patients currently under development. Speculation surrounds FDA approval by the end of 2013 at the earliest. The market need may be $3 billion to $4 billion by 2018.
In other news, Idenix Pharmaceuticals, Inc. (Nasdaq: IDIX) reported encouraging data from a phase I clinical trial of IDX719, an NS5A inhibitor for the treatment of hepatitis C virus infection.
Other companies working on HCV cures without the use of interferon include Abbott Laboratories (NYSE: ABT), Merck & Co. (NYSE: MRK), and Vertex Pharmaceuticals Inc. (Nasdaq: VRTX).
While shares of Gilead and Idenix are up 15 percent and 7 percent, respectively, Achillion shares are down about 22.5 percent.
Positive data was submitted by Gilead (Nasdaq: GILD) for its GS-7977 plus pegylated interferon (Peg-IFN) and ribavirin (RBV) HCV treatment.
Bristol-Myers Squibb (NYSE: BMY) is in development collaboration with Gilead over GS-7977.
According to one RBC analyst, the combination is the best treatment for GT-1 patients currently under development. Speculation surrounds FDA approval by the end of 2013 at the earliest. The market need may be $3 billion to $4 billion by 2018.
In other news, Idenix Pharmaceuticals, Inc. (Nasdaq: IDIX) reported encouraging data from a phase I clinical trial of IDX719, an NS5A inhibitor for the treatment of hepatitis C virus infection.
Other companies working on HCV cures without the use of interferon include Abbott Laboratories (NYSE: ABT), Merck & Co. (NYSE: MRK), and Vertex Pharmaceuticals Inc. (Nasdaq: VRTX).
While shares of Gilead and Idenix are up 15 percent and 7 percent, respectively, Achillion shares are down about 22.5 percent.
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