Last week I opined that Lilly wouldn't be engaged in much hand wringing over prospect of giving up its rights to Telaprevir to Vertex Pharmaceuticals back in 2002. Today, Vertex announced more Phase III trial results for the drug -- and claim that when combined with standard therapies it is able to reduce treatment time for hepatitis C infection of the liver by 50%, i.e. by 24 weeks. Largely, this data is supportive of the Phase III trial data the company released back in May -- but it is more good news for Telaprevir. Analysts believe this should be a boost for the stock but are uncertain what market reaction will be. It may be a buying opportunity.
Posted by Bruce Lehr August 10th 2010.