ARTICLE | Finance

The price of HCV competition

HCV battle erodes combined $13B in market cap from AbbVie, Gilead

January 26, 2015 8:00 AM UTC

The competition between Gilead Sciences Inc. (NASDAQ:GILD) and AbbVie Inc. (NASDAQ:ABBV) to gain market share among HCV patients has seen the two shed a combined $12.8 billion in market cap in the month since FDA approved AbbVie's Viekira Pak paritaprevir/ritonavir/ombitasvir/dasabuvir.

FDA approved Viekira on Dec. 19. AbbVie closed the day at $67.71 with a $107.9 billion market cap, while Gilead closed at $108.45 and was valued at $163.6 billion. ...