At Fred Poordad’s bustling hepatitis C clinic in the heart of Los Angeles, one in every five patients receives no treatment. They are waiting for a wave of new drugs, expected in the next 18 months, that may boost their chance at a cure by as much as 10-fold.
Medivation Inc., a company that acquires early-development drugs, more than doubled after its prostate cancer medicine proved so effective that it halted a clinical trial and gave the medicine to all participants.
Gilead Sciences Inc., the world’s largest maker of HIV medicines, agreed to buy Pharmasset Inc. for about $11 billion, betting that its experimental hepatitis C treatments will lead the next generation of therapies in a market that may reach $20 billion by 2020.
Sanofi-Aventis SA Chief Executive Officer Chris Viehbacher has support from his board of directors to offer as much as $70 a share for Genzyme Corp. , or about $18.7 billion, said three people with knowledge of the situation.