Bristol mulls write-down of key hep C drug

Bristol-Myers Squibb ($BMY) is weighing whether to write down the value of its experimental hepatitis C pill BMS-986094, which has a carrying cost of $1.8 billion, according to the company's SEC filing on Friday. The statement came days after the drug giant hit the brakes on a Phase II trial of the drug because a patient in the study suffered cardiovascular toxicity. The decision immediately prompted talk that Bristol's $2.5 billion buyout of Inhibitex earlier this year to acquire the 094 compound is shaping out to be a disaster. Bristol has seriously stumbled in a crowded race to advance all-oral regimens against hep C, expanding Gilead Sciences' ($GILD) lead and boosting the prospects of others in the blockbuster chase, such as Vertex Pharmaceuticals ($VRTX) and Abbott Labs ($ABT). Article | SEC filing

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