Idenix Shares Fall as J&J Buys Rival Hepatitis C Therapy
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Idenix Pharmaceuticals Inc., a maker of experimental hepatitis C therapies, fell the most in almost four months after partner Johnson & Johnson bought a rival drugmaker’s treatment for the viral disease.
Idenix declined 16 percent to $3.99 at the close in New York. It was the stock’s biggest one-day slide since June, when U.S. regulators requested more safety data for one of its hepatitis C drugs. The Cambridge, Massachusetts-based company has fallen 18 percent so far this year.