AbbVie’s New Hepatitis C Drug Chipping Away At Gilead’s Share 

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AbbVie’s New Hepatitis C Drug Chipping Away At Gilead’s Share 

A new hepatitis C drug, Mavyret, is gaining market share.

AbbVie‘s (ABBV) newly launched hepatitis C drug Mavyret has already grabbed 7% of total new prescriptions, further chipping away at Gilead Sciences‘ (GILD) struggling hepatitis C franchise, an analyst said Friday.

Autoplay: On | OffAs a result, Wall Street sees Gilead’s 2018 hepatitis C drug sales declining 28% vs. the year-earlier period, Evercore analyst Umer Raffat wrote in a note to clients. The drop will be sharper in the U.S. at a 31% plunge. In 2019, sales are expected to fall another 19%.

On a wholesale basis, Mavyret is priced at roughly half its competitors at $13,200 per month vs. $24,920, $28,000 and $31,500 for Gilead’s Epclusa, Sovaldi and Harvoni, respectively. Dow stock Merck‘s (MRK) Zepatier and AbbVie’s Viekira Pak cost a respective $18,200 and $27,773 monthly.

But Gilead contends that after discounts and rebates, Mavyret is priced similarly to Harvoni. They differ, though, in treatment duration. Of the wide array of hepatitis C drugs, Mavyret can treat every genotype and has the shortest treatment duration at eight weeks for most patients.

Read full article: AbbVie’s New Hepatitis C Drug Chipping Away At Gilead’s Share | Stock News & Stock Market Analysis – IBD

Read Full Article: AbbVie’s New Hepatitis C Drug Chipping Away At Gilead’s Share | Stock News & Stock Market Analysis – IBD

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