Updated with analyst defense of Gilead SciencesThe top medical officer for pharmacy benefits manager
Express Scripts (ESRX_) expressed concerns about high pricing for the new crop of hepatitis C pills, most notably
Gilead Sciences' (GILD_) Sovaldi, according to a
Bloomberg story Tuesday.
Solvadi may be pitted against other hepatitis C therapies, Express Scripts' chief medical officer said, and "tough formulary decisions" will be made.
Shares of Gilead are down 4.5% to $71.84 after the
Bloomberg story hit the wires. Shares of Abbvie, on the other hand, are up 4.5% to $53.51.
The
FDA approved Gilead's Sovaldi on Friday and the drug is priced at $1,000 per pill, or $84,000 for a 12-week course of therapy.
Abbvie's Hep C regimen is expected to be approved next year. If the company prices the drug cocktail right, it may gain extra market share and revenue, based on the Express Scripts comments today.
Shares of
Enanta Pharma (ENTA_), which contributes a drug to the Abbvie regimen and will receive royalties on sales, are up 18% to $35.10.
Here are some tweets from Bloomberg reporter Drew Armstrong on the interview with Express Scripts' chief medical officer:
I was diagnosed as HEPATITIS B carrier in 2013 with fibrosis of the
ReplyDeleteliver already present. I started on antiviral medications which
reduced the viral load initially. After a couple of years the virus
became resistant. I started on HEPATITIS B Herbal treatment from
ULTIMATE LIFE CLINIC (www.ultimatelifeclinic.com) in March, 2020. Their
treatment totally reversed the virus. I did another blood test after
the 6 months long treatment and tested negative to the virus. Amazing
treatment! This treatment is a breakthrough for all HBV carriers.