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gilead-sciences

New AbbVie hepatitis C regimen shows high cure rates: studies

An experimental once-daily combination hepatitis C treatment being developed by AbbVie Inc demonstrated very high cure rates across a wide range of disease genotypes, according to data presented on Saturday, likely giving the company a more competitive product if approved. Cure rates of 97 percent to 100 percent over either eight or 12 weeks of treatment were achieved in the clinical trials with the one pill, once-a-day combination of ABT-493 and ABT-530, which use different methods to block virus replication. The combination would provide greater convenience for a wider variety of patients than AbbVie's Viekira Pak, improving chances of making inroads into the market domination currently enjoyed by Gilead Sciences Inc. Viekira Pak, which is approved for genotype 1, the most common form of the serious liver disease in the United States, consists of four drugs and involves taking three pills in the morning and one in the evening.

Gilead first-quarter profit doubles on strong hepatitis C drug sales

By Deena Beasley LOS ANGELES (Reuters) – Gilead Sciences Inc on Thursday said its quarterly profit nearly doubled, driven by strong sales of its hepatitis C drugs, as it topped Wall Street estimates. Gilead signaled that, with its hepatitis C franchise established, it is a good time for the company to consider business development opportunities. “We want to stick very closely to therapeutic areas we are in today,” Gilead Chief Operating Officer John Milligan said on a conference call. Excluding items, Gilead earned $2.94 per share in the first quarter, beating the average Wall Street estimate of $2.32, according to Thomson Reuters I/B/E/S. The company’s shares, which fell 1.8 percent in regular trading, rose 2 percent to $102.52 after hours.