News Summary: Abbott Labs hepatitis C drug study
THE JUMP: Shares of Abbott Laboratories Inc. rose Monday after the company said an experimental five-drug regimen cured 99 percent of patients in a 12-week mid-stage clinical trial.
THE DATA: The North Chicago, Ill., company said the regimen worked on patients with the most common and hardest-to-treat type of the disease. The cocktail includes three experimental Abbott drugs as well as ribavirin, a standard component of hepatitis C treatment, and the antiviral drug Ritonavir.
HIGH STAKES: Hepatitis C is a virus that can lead to life-threatening liver damage and is the main cause of liver transplants in the U.S. Analysts say the market for treatments is potentially lucrative for drugmakers. More people are expected to be diagnosed with the tough-to-treat disease as the baby boomer generation ages.