Inhibitex news buoys Idenix, Achillion

HCV companies Idenix Pharmaceuticals Inc. (NASDAQ:IDIX) and Achillion Pharmaceuticals Inc. (NASDAQ:ACHN) rose on Monday after Bristol-Myers Squibb Co. (NYSE:BMY) said it is buying HCV play Inhibitex Inc. (NASDAQ:INHX) for $26 per share in cash, or $2.5 billion. Idenix gained $2.61 (37%) to $9.66, while Achillion was up $1.80 (23%) to $9.72. Inhibitex was up $13.83 (140%) to $23.70.

Additionally, Idenix and Achillion both reported data on their respective HCV programs. Idenix said a DSMB recommended continuation of a Phase IIb trial of IDX184 after reviewing interim data from 31 evaluable patients. Doses of 50 and 100 mg IDX184 plus pegylated interferon and ribavirin led to a rapid virologic response (RVR) in 63% and 73% of patients, respectively. ...