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AbbVie’s (NYSE:ABBV) closing in on Gilead Sciences (NASDAQ:GILD)

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AbbVie’s (NYSE:ABBV)’s Hepatitis C drug has been recommended by European Medicines Agency for approval from the Food and Drugs association. AbbVie’s (NYSE:ABBV) is now all set to stand nose to nose in Europe with Gilead Sciences (NASDAQ:GILD), challenging the later’s dominance in the continent. The decision will bring a healthy competition in the pharma world, which for some time, has been undisputedly dominated by Gilead Sciences (NASDAQ:GILD). There is also a chance that AbbVie’s (NYSE:ABBV)’s two drugs Viekirax and Exviera beat Gilead Sciences’ (NASDAQ:GILD) drugs by arriving on the market first.

This decision by the committee will certainly put AbbVie’s (NYSE:ABBV) in a great position; furthermore the company will be all set to be approved official from the EMA in the first quarter of next year. AbbVie’s (NYSE:ABBV)’s Hepatitis C drug is a three pill drug while Gilead Sciences’ (NASDAQ:GILD) Harvoni is a single pill treatment. It can’t be said for sure as to how much will AbbVie’s (NYSE:ABBV) be affecting Gilead Sciences’ (NASDAQ:GILD)’s position but AbbVie’s (NYSE:ABBV)’s edge would be inexpensive prices. AbbVie’s (NYSE:ABBV) hasn’t given the specifications of its pricing but it’s being said that it’ll be much more less than the 94,500 which Gilead Sciences’ (NASDAQ:GILD) is charging.

Harvoni posted better clinical cure rates in the trials but the pricing factor will be crucial because Harvoni’s formula is almost the same as of AbbVie’s (NYSE:ABBV)’s Hepatitis C drug. And the results weren’t different by a long margin either so patients might settle for AbbVie’s (NYSE:ABBV)’s drug in context of convenience and budget.

The rising population of Hepatitis C patients will also fall into the favor of AbbVie’s (NYSE:ABBV). Global Hepatitis C population stands at 150- 170 million people and in Europe the number is 9 million with 3 million infected with chronic Hepatitis C. AbbVie’s (NYSE:ABBV) might win the FDA approval in December and the drug will be available from next year on. But there’s a small catch here. The population is so large that both Harvoni and AbbVie’s (NYSE:ABBV)’s drug can be accommodated. It will all depend upon the curing ability and the price. As aforementioned, Harvoni’s curing ability is slightly better while AbbVie’s (NYSE:ABBV)’s drug isn’t far behind in that region, but it is much cheaper in terms of pricing. So it all comes down to the customer’s preference and budget.

This is also a large opportunity for doctors, patients and buyers because they will get a choice between the therapies. Prescribing different therapies isn’t always such a good idea, but considering these drugs are almost the same, in this case it will be good news for the patients that can afford Harvoni and those that will settle with AbbVie’s (NYSE:ABBV)’s drug. Mind you just because AbbVie’s (NYSE:ABBV)’s drug is cheaper don’t mean it is ineffective. There’s a slight difference in the curing ability and other than that everything is fine.

AbbVie’s (NYSE:ABBV) is closing in on Gilead Sciences’ (NASDAQ:GILD)’s dominance. Who knows what sort of threat it poses to Gilead Sciences’ (NASDAQ:GILD)’s reign on the pharma market .

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