Shares of big pharma AbbVie (ABBV) dropped more than 3% Friday morning after the company issued 2015 EPS guidance and got downgraded by Bank of America. AbbVie said it expects full-year earnings of $4.25 to $4.45, the midpoint just above the average estimate of $4.32 among analysts polled by Thomson Reuters. The company said it will further refine guidance as it rolls out its new hepatitis C treatment Viekira Pak, which launched in America last
Monday brought a surprising turn to the twisting story of hepatitis C treatments, as pharmacy giant CVS Health said it will offer exclusive coverage for Gilead Sciences’ hep C drugs. But the key issue of price remained unanswered. The deal seemed to counterattack one cut two weeks ago between pharmacy benefit manager Express Scripts (ESRX) and AbbVie (ABBV), days after the FDA OK’d AbbVie’s four-drug Viekira Pak for genotype 1 of the
Gilead Sciences (GILD) is well-positioned in the growing hepatitis C drug market vs. rival AbbVie (ABBV), says an analyst in upgrading his Gilead stock rating. Matthew Harrison, an analyst for Morgan Stanley, raised his Gilead rating to overweight from equal weight. He also raised his price target on Gilead stock to 140 from 100. Gilead Sciences stock was up more than 3.5% in afternoon trading in the stock market today, above 97, and is up 30% for