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Gilead shares plunge after Express Scripts spurns its $1,000 hepatitis C pill
Gilead shares plunge after Express Scripts spurns its $1,000 hepatitis C pill

Gilead Sciences Inc., already under fire for the high costs of its hepatitis C drugs, took another hit Monday when the nation's largest manager of pharmacy benefits struck an exclusive deal with a rival drugmaker. Express Scripts Holding Co. said Monday it will make a newly approved treatment from AbbVie Inc. its sole option for patients with the most common form of hepatitis C. In response, investors sold off shares of Gilead in trading Monday. The stock of the Foster City, Calif., firm was down $15.55, or 14%, to $92.90. Federal regulators approved AbbVie's multi-drug Viekira Pak on Friday, and Express Scripts said it had negotiated a discount from AbbVie on the $83,000...

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