Merck takes haircut on Idenix asset

A shifting HCV market and pricing pressure caused Merck & Co. Inc. (NYSE:MRK) to dramatically reduce its expectations for uprifosbuvir (MK-3862), which the pharma gained in its $3.9 billion acquisition of Idenix Pharmaceuticals Inc. in 2014.

In a Feb. 23, 8-K filing, Merck said it would record a pretax impairment charge of $2.9 billion for uprifosbuvir based on "recent changes to the product profile, as well as changes to its expectations for pricing and the market opportunity."...