Gilead shares fall after study announcement

Gilead shares fall after company says hepatitis C treatment may need other drugs to work

Associated Press

FOSTER CITY, Calif. (AP) -- Shares of Gilead Sciences are sinking in pre-market trading. The drugmaker says a promising hepatitis C treatment it recently acquired may have to be used with other drugs in patients with the disease.

The Foster City, Calif., company said Friday that some patients in a small part of a mid-stage study relapsed within a month of completing the treatment. The potential drug is labeled GS-7977, and Gilead is studying it in hepatitis C patients with genotype 1, the most prevalent subset of the disease in the Western world and the hardest to treat.

Hepatitis C can lead to life-threatening liver damage.

Gilead acquired the potential treatment in an $11 billion deal for Pharmasset Inc.

Shares of Gilead are down $9.97, or 18.2 percent, to $44.84 in pre-market trading.

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