Achillion Pharmaceuticals, Inc. Plunges on FDA Hold on Hepatitic C Med

Achillion Pharmaceuticals Inc. (ACHN) plunged as much as 53 percent after U.S. regulators kept the company’s experimental hepatitis C drug sovaprevir on hold because of abnormal liver results. Achillion fell to $3.42 at 7:37 a.m. New York time. The Food and Drug Administration determined the compound’s development shouldn’t resume after the company responded to all the issues raised by the agency in June, New Haven, Connecticut-based Achillion said in a statement after the market closed on Sept. 27.

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