The deal between Gilead and Phamasset is driving other hepatitis C developers higher this morning. Whether the 90% or so premium is a true read on just how bad this is up to you but here is what we are seeing:
Idenix Pharmaceuticals Inc. (NASDAQ: IDIX) is up 5% at $7.79 versus a prior 52-week range of $2.67 to $7.72.
Inhibitex, Inc. (NASDAQ: INHX) is up 28% at $11.50 pre-market versus a prior 52-week range of $2.00 to $10.60.
Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) was higher early on but shares are now indicated down marginally at $28.24 versus a $28.29 close on Friday. Vertex has been riddled with problems this year.