The Zacks Analyst Blog Highlights: Gilead Sciences, Bristol-Myers Squibb, Achillion Pharmaceuticals and Cambrex - Press Releases
For Immediate Release
Chicago, IL – March 30, 2015 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the Gilead Sciences, Inc. (GILD-Free Report), Bristol-Myers Squibb Company (BMY-Free Report), Achillion Pharmaceuticals (ACHN-Free Report) and Cambrex Corporation (CBM-Free Report).
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Here are highlights from Friday’s Analyst Blog:
Gilead’s Hepatitis C Drug Approved in Japan
Gilead Sciences, Inc. (GILD-Free Report) announced that the Japanese Ministry of Health, Labour and Welfare has approved its hepatitis C virus (HCV) drug Sovaldi for the suppression of viremia in patients suffering from genotype 2 chronic HCV infection with or without compensated cirrhosis.
Sovaldi is the first product to be marketed by Gilead in Japan and is approved for use in combination with ribavirin.
According to the company’s press release, Japan has one of the highest rates of liver cancer in any industrialized country, resulting primarily from HCV.
We note that Sovaldi, which has been in the U.S. and EU market for a while now, generated multi-billion dollar sales for Gilead and has ensured a strong position for the company in the HCV market. Gilead has another blockbuster HCV drug in its portfolio – Harvoni. Combined sales of Harvoni and Sovaldi in 2014 were $12.4 billion, accounting for half of the company’s total product sales.
As per data from Centers for Disease Control and Prevention, approximately 3.2 million people in the U.S. suffer from chronic HCV infection.
The HCV market has huge commercial potential and several companies are working on bringing new and better treatments to market. Last December, the FDA approved Viekira Pak. Another player in the HCV market is Olysio.
Meanwhile, Bristol-Myers Squibb Company’s (BMY-Free Report) HCV drug Daklinza (daclatasvir) is currently marketed in Japan and the EU. However, it is under review in the U.S. Another company focused on HCV treatments is Achillion Pharmaceuticals (ACHN-Free Report).
With new entrants like Viekira in the HCV market as well as pricing competition, we expect investor focus to remain on Sovaldi's and Harvoni’s performance.
Gilead currently carries a Zacks Rank #4 (Sell). A better-ranked stock in the health care space is Cambrex Corporation (CBM-Free Report), sporting a Zacks Rank #1 (Strong Buy).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
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GILEAD SCIENCES (GILD): Free Stock Analysis Report
BRISTOL-MYERS (BMY): Free Stock Analysis Report
ACHILLION PHARM (ACHN): Free Stock Analysis Report
CAMBREX CORP (CBM): Free Stock Analysis Report
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