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AbbVie Stock Plunges After FDA Warns Of "Serious Liver Injury Risk" From Company's Hep C Treatments
It has been a horrible quarter for biotechs, and for AbbVie it just got worse.
Moments ago specialty pharma drug company AbbVie which had a market cap of over $80 billion plunged over 10% after the FDA unexpectedly issued a warning of "serious liver injury risk with hepatitis C treatments Viekira Pak and Technivie."
Specifically the FDA, which approved Technivie for use in combination with ribavirin for the treatment of hepatitis C virus (HCV) genotype 4 infections in patients without scarring and poor liver function (cirrhosis), said that "hepatitis C treatments Viekira Pak and Technivie can cause serious liver injury mostly in patients with underlying advanced liver disease. As a result, we are requiring the manufacturer to add new information about this safety risk to the drug labels.
It adds that "patients taking these medicines should contact their health care professional immediately if they develop fatigue, weakness, loss of appetite, nausea and vomiting, yellow eyes or skin, or light-colored stools, as these may be signs of liver injury. Patients should not stop taking these medicines without first talking to their health care professionals. Stopping treatment early could result in drug resistance to other hepatitis C medicines. Health care professionals should closely monitor for signs and symptoms of worsening liver disease, such as ascites, hepatic encephalopathy, variceal hemorrhage, and/or increases in direct bilirubin in the blood.
The immediate result is that ABBV shares are tumbling...
... while those of its biggest Hep C competitor Gilead Sciences, are spiking by 6%.
And just like that, the day of another happy camper in hedge fund hotel stocks, Glenview - which is long 17.9 million shares of ABBV - was ruined.
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"As a result, we are requiring the manufacturer to add new information about this safety risk to the drug labels."
Here, now put this little tiny message on your bottles so nobody can see it and slip it into your 30 second list of side effects in the commercials so that nobody can hear it.
Notice: Small Pharam is getting hammered by the governement at same time as Small Insurance. No Drugs For You.
The Big Boys are sending smaller competition out to swim with the fishes.
Knock, knock. Who's there? Liver. Liver who? Liver failure.
Boris is recommending Khortytsa alternative for treatment. Of course, there is still great risk to detrimental of liver, but at least there is innebriative benefit!
Acid Reflux?
Here, try our new elixir, it’s pure, triple distilled H2SO4..
I am Chumbawamba.
Formula for Bio Pharm success:
Get guinea pigs to invest in your company.
The irony of all ironies!
A Hep-C drug that damages the liver.
Can't make this shit up.
My favorite poison is Nemiroff with Honey and Hot Peppers, and to heck with my liver! Who wants to live forever?
More vodka is reduce toxicity overdose of Di-Hydrogen Monoxide.
Bunch of drunks on this thread!
Another biofraud bites the dust.
Hep C destroys the liver and this drug accelerates it? WTF. If I was a shareholder I would demand an independent review of their clinical trials.
I understand AbbVie is working on just such an independant clinical drug trial review as we speak!
Forward my Homeland!
Let us fix your liver with a drug that destroys your liver. Wait -- what?!??
no liver = no Hep C issues
So many drugs currently on the market are so toxic that over 200,000 die a year from prescription medications in the US.
Statin drugs are a great example of toxic drugs as MIT scientist Raymond Francis explains:
Statin Drugs are Poisonhttps://www.youtube.com/watch?v=TZomZEPBdbM
There are about 784,000 iatrogenic deaths (deaths induced inadvertently by a physician or surgeon or by medical treatment or diagnostic procedures) a year in the US. No one complains about those deaths
http://www.ourcivilisation.com/medicine/usamed/deaths.htm
I could have concocted that in my Kitchen for a lot cheaper.
Didn't this drug go through trials?
er....more of a kangaroo court
As Miffled will attest, nearly all drug blinds are heavily skewed. If it fails Phase 2, they'll just keep goal seeking the testing sample pool until it passes. Which is why some drugs fly through phase 1 and languish in phase 3 hell, until magically they cure "something" (with 80% fatality rates). Then they patent that 1 chiral and market the crap out of it for 5 years, often hoping the first 'second line' side effects to not show up until at least 5 years after first treatment.
Probably why Big Med pays 2x the more in donations then any other lobby on the Hill. And also likely behind why Big Biotech spends more than all other companies (even Coke) on adverts these days.
I miss Miffed;-( I joined to try n tell her to stay as I loved her input. but it took a while to get membership through. been lurking for year+ I think.
that aside it REALLY pays to read trials n suss the placebos they use
because too often the supposed sugar pill placebo is another variant of the same med
thereby they say
well the placebo groups side effects were around the same as the trials one
therefore its no more dangerous.
I noted this especially in trials for nsaids the cartophen/vioxx sort in canines. they KILL many many recipients.
same as VIOXX did to humans only even faster in aged patients.
the recent Yervoy melanoma drug?
very few in the trial the side effects are horrendous and the extension of life..with little quality as little as a few weeks in most, yet Aus govt has approved n subsidised it recently.
queries to govt health promoters of its use here got ignored totally.
AbbVie, how 'bout you bail out my ARWR position?
I'm one of the lucky ones. Just found out I'm HepC free after taking HARVONI
http://www.naturalnews.com/051636_statins_drug_scam_premature_aging.html
most drugs are bs
"They hate us for our toxic pharmaceuticals...."