Shares of Valeant Pharmaceuticals were hit after the drug developer announced that a late-stage trial of Viramidine for hepatitis C did not meet a primary endpoint. Viramidine did hit one of its primary endpoints though, as researchers noted data demonstrating the therapy was safer than standard therapy. Researchers highlighted data that patients taking Viramidine had a statistically lower incidence of anemia compared to patients taking ribavirin (5 percent compared to 24 percent). And while the therapy missed a primary endpoint in demonstrating that it is not inferior to ribavirin on an intent-to-treat basis, researchers emphasized that an analysis of the data showed that higher dosing was associated with higher efficacy. "We continue to work toward commercial launch of Viramidine before the end of 2007," said Valeant CEO Timothy C. Tyson.
- here's the AP report for more information