Achillion (ACHN) Higher on Further HCV Development, Inhibitex Buyout; Up ~10%

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Price: $0.79 --0%

Overall Analyst Rating:
SELL (= Flat)

Achillion Pharmaceuticals (Nasdaq: ACHN), is moving higher on a few news bits today:

First it is planning further exploration of ACH-1625 in combination with other oral antiviral agents for the treatment of all HCV genotypes and continues to evaluate ACH-2684 in a Phase 1 clinical trial; and
It is reacting to the takeover of Inhibitex (Nasdaq: INHX) by Bristol-Myers Squibb (NYSE: BMY), for about a 163 percent premium.Shares are up about 10.2 percent Monday.

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