Gilead, AbbVie hit by fresh concerns on Hep C discounting

January 13, 2015 11:42 PM

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(Reuters) - Shares of Gilead Sciences Inc closed down 6 percent on Tuesday, after a pharmacy benefit manager said it would cover both Gilead and rival AbbVie Inc's hepatitis C offering, renewing concerns of pricing pressure.

Investors interpreted this as further discounting of hep C drugs, signaled by an increasing willingness by drugmakers to offer rebates, Sanford Bernstein's Geoffrey Porges wrote in a note.

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