S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Investing

Gilead, Idenix Slug it Out (GILD, IDIX)

Photo of Paul Ausick
By Paul Ausick Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

When biotech company Gilead Sciences Inc. (NASDAQ: GILD) made a deal last month to acquire Pharmasett for $11 billion, no thought it would pay off so soon. Especially the folks at Idenix Pharmaceuticals Inc. (NASDAQ: IDIX).

Gilead used its conference call last night to reveal that Pharmasett’s hepatitis C drug, now called GS-7977, when used in combination with ribavirin eliminated all symptoms of a certain type of hepatitis C in just four weeks.

Idenix, meanwhile, reported that the US FDA had lifted a partial hold on trials of the company’s hepatitis C drug, dubbed IDX184. That news momentarily lifted the stock, but it wasn’t enough to overcome the Gilead story.

Gilead’s shares are up nearly 10% today, at $54.22 after posting a new 52-week high of $54.77 earlier. Idenix shares are down nearly -13% at $11.48 in a 52-week range of $2.67-$15.25.

The race to be first to market with a hepatitis C drug now has Gilead ahead in the backstretch.

Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Continue Reading

Paul Ausick |

Merck Is Top DJIA Stock in 2015

Merck shares posted a new 52-week high last Tuesday and closed Friday less than a buck from that high. Year…
Jon C. Ogg |

Why Idenix Could Rise Even Higher, and Challenge Gilead and Vertex

ThinkstockIdenix Pharmaceuticals Inc. (NASDAQ: IDIX) was the biggest gainer of all listed stocks on Friday with a rally of 40%.…
Lee Jackson |

4 Top Pharmaceutical Companies Helping Combat Hepatitis C Near Epidemic

A new research report from the analysts at UBS focuses on four companies that stand to benefit from rising demand…
Jon C. Ogg |

Abbott’s Hep-C Pressures All Hep-C Rivals (ABT, RIGL, GILD, VRTX, IDIX)

News from Abbott Laboratories (NYSE: ABT) on its positive Phase II study results from two different interferon-free hepatitis C treatment…
Lee Jackson |

U.S. Hepatitis Problem to Continue Driving These 4 Top Stocks

A new research report from UBS focuses on four top companies that are making great strides in treatments for patients…
Paul Ausick |

Gilead Reports Relapses on Hepatitis C Drug (GILD)

Shortly after Gilead Sciences Inc. (NASDAQ: GILD) announced its $11 billion acquisition of Pharmasett, the company also reported some very…
Jon C. Ogg |

Gilead Defended By Analyst As Competitors Gain Momentum (GILD, BMY, VRTX, ACHN)

Gilead Sciences, Inc. (NASDAQ: GILD) has recovered from its pre-market lows on the devastating news that its Hepatitis C drug…
Jon C. Ogg |

After Idenix: The Next Four Biotech Buyout Candidates

Here are the four top biotech names we found that all have hepatitis C drugs in their current pipelines at…
Jon C. Ogg |

Hepatitis C Makers Mostly Higher on Gilead/Pharmasset M&A (IDIX, INHX, VRTX)

The deal between Gilead and Phamasset is driving other hepatitis C developers higher this morning.  Whether the 90% or so premium…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618