Achillion plummets on FDA refusal to lift sovaprevir study hold
This article was originally published in Scrip
Shares of Achillion Pharmaceuticals plummeted more than 45%, losing at least $3.29, in after-hours trading on 27 September after the company said the FDA was refusing to lift the clinical hold on the biotech's Phase I trial testing its experimental hepatitis C virus (HCV) drug sovaprevir (ACH-1625), a pan-genotypic HCV protease inhibitor.
You may also be interested in...
With new funding in hand, Moderna and its infectious disease venture Valera are going full-speed ahead with a Zika vaccine, taking an mRNA approach, which they said could be a more rapid strategy to try to stop the disease.
Allergan CEO Brent Saunders vows not to engage in price gouging and says his firm will limit cost increases to single-digit percentages, occurring only once per year. But it's unclear whether Saunders will stand as a lone wolf in the industry or if others will make similar pledges.
Hillary Clinton's plan to rein in high prices of older medicines, which includes creating a federal panel that has authority to impose fines, may grab headlines, but some analysts think it's unlikely to get very far in a divided Washington.