Tuesday 13 January 2015

Gilead, AbbVie hit by fresh concerns on Hep C discounting

(Reuters) - Shares of Gilead Sciences Inc closed down 6 percent on Tuesday, after a pharmacy benefit manager said it would cover both Gilead and rival AbbVie Inc's hepatitis C offering, renewing concerns of pricing pressure. Investors interpreted this as further discounting of hep C drugs, signaled by an increasing willingness by drugmakers to offer rebates, Sanford Bernstein's Geoffrey Porges wrote in a note. Express Scripts, the largest U.S. pharmacy benefit manager, dropped Gilead's hep C drugs in December in favor of AbbVie's newly approved alternative at a cheaper price. ... via Health News Headlines - Yahoo News Read More Here..

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