Health and Healthcare
Abbott's Hep-C Pressures All Hep-C Rivals (ABT, RIGL, GILD, VRTX, IDIX)
Published:
Last Updated:
News from Abbott Laboratories (NYSE: ABT) on its positive Phase II study results from two different interferon-free hepatitis C treatment has the entire drug sector up in arms as it pertains to Hepatitis C drugs. The 91%, 93%, and 95% response rates that were initially seen in the report were more than impressive. The news is spooking investors in other Hepatitis C drug players as you can see:
Rigel Pharmaceuticals (NASDAQ: RIGL) has a study under way and its shares are down 4% at $7.95.
Gilead Sciences Inc. (NASDAQ: GILD) has already taken it on the chin once and maybe it should feel lucky that its drop is only 1% at $47.61 so far today.
Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) is down 1.5% at $41.17 on the day.
Idenix Pharmaceuticals Inc. (NASDAQ: IDIX) is the worst of the lot that we have seen with a drop of 14.4% at $8.75.
Investors over the longer-term should be reminded that unless Abbott is allowed to skip a lot of the testing that it could still be quite some time before its Hepatitis C treatment even comes up for the traditional FDA approval process. We are nearly in mid-2012 already, and that could put the time frame out to 2014 or even longer.
JON C. OGG
Take Charge of Your Retirement: Find the Right Financial Advisor For You in Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding professional guidance—and we’ve made it easier than ever for you to connect with the right financial advisor for your unique needs.
Here’s how it works:
1️ Answer a Few Simple Questions
Tell us a bit about your goals and preferences—it only takes a few minutes!
2️ Get Your Top Advisor Matches
This tool matches you with qualified advisors who specialize in helping people like you achieve financial success.
3️ Choose Your Best Fit
Review their profiles, schedule an introductory meeting, and select the advisor who feels right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.