Friday, February 17, 2012

Gilead shares slip on poor performance of hepatitis C drug

Shares of Gilead Sciences Inc. were down more than 14 percent in late-afternoon trading, after the drug developer said many patients relapsed after receiving a combination of its experimental hepatitis C drug and the antiviral ribavirin.
Six of eight patients receiving ribavirin and GS-7977, the centerpiece of its $11.2 billion acquisition of Pharmasset Inc., experienced a viral relapse after completing 12 weeks of treatment, said the Foster City-based company (NASDAQ: GILD).
Ten patients were in that group, Gilead said, but data was available for only eight of them so far.

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