A Bloomberg article today illustrates the Street’s bullish outlook on Achillion Pharmaceuticals (NASDAQ:ACHN) as a takeover candidate. Following the failure of Hep C compounds being developed by Bristol-Myers Squibb (NYSE:BMY) and Idenix Pharmaceuticals (NASDAQ:IDIX), the market for HCV treatments is still open for new products. The article corroborates previous reporting by PropThink that Achillion is now one of the front-runners in the development of HCV treatments. Its compounds utilize protease inhibitors and the NS5 drug class; suspended and canceled products were nucleotide-based chemicals. The HCV market is expected to exceed $20B by 2020.
See our previous coverage here.