AbbVie (ABBV): We Can Win Race Against Gilead Sciences, Inc. (GILD) for First New Hepatitis C Drugs
6/14/2013 7:58:14 AM
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AbbVie Inc. (ABBV) said it can win the race against Gilead Sciences Inc. (GILD) to bring to market a new generation of all-oral hepatitis C drugs. AbbVie’s trial for an unnamed multidrug therapy is in the last of three stages typically required for U.S. approval and is moving quickly, Scott Brun, the company’s head of drug development, told investors today at a conference in New York. Gilead is seeking to bring its own multidrug regimen with its therapies sofosbuvir and ledipasvir to market next year. “We’ve got a very good shot at being first,” Brun said at the conference hosted by Goldman Sachs Group Inc. “It is a very tight race.” Multidrug regimens by AbbVie, Gilead and Bristol-Myers Squibb Co. (BMY) will offer hepatitis C patients more tolerable options that do away with weekly shots of interferon, a current standard of treatment that causes flu-like side effects. Gilead estimated in May that 150,000 patients may seek treatment in the U.S. once the new class of all-oral drugs is on the market, compared with 85,000 patients taking therapies last year.
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