FDA Approves Hepatitis C Drug Treatment
The Food and Drug Administration (FDA) has approved the first-ever drug that can treat all six major strains of hepatitis C (or HCV) in just eight weeks.
The drug is called AbbVie’s Mavyret and its approval hasn’t been welcomed by fellow competitors such as biotech giant Gilead, reports Fortune, whose help C treatments are a vital part of its product portfolio. As a result they noticed a significant drop of 2% in their stocks.
Despite actually having its own “pan-genotype” hepatitis C medicine, Epclusa, a growing field of competitors have closed in on its dominance within the market.
Dr. Edward Cox, from the FDA, explained, “This approval provides a shorter treatment duration for many patients, and also a treatment option for certain patients with genotype 1 infection, the most common HCV genotype in the United States, who were not successfully treated with other direct-acting antiviral treatments in the past.”
Analysts did warn that Gilead’s success would be short lived due to emerging competition in both hepatitis C and HIV treatments.