AbbVie sees 2014 approval of hepatitis drugs, shares rise

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AbbVie sees 2014 approval of hepatitis drugs, shares rise

AbbVie Inc issued a cautious 2014 profit forecast, but said it expects U.S. approval this year for its potentially lucrative new all-oral treatment for hepatitis C, sending its shares up 3.4 percent. The company, before releasing fourth quarter earnings on Friday, released favorable data from four additional Phase III studies of its experimental treatment for the liver disease. "The excellent hepatitis C safety and efficacy data published today is positive for the shares" of AbbVie, Jefferies analyst Jeffrey Holford said. AbbVie's treatment is a combination of five oral medications that has been shown to knock out the hepatitis C virus in as soon as eight or 12 weeks of treatment, without serious safety issues.

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