Valeant Shares Fall on Drug’s Failure in Trial

Shares of Valeant Pharmaceuticals International fell 14% after the drug maker said its Viramidine treatment for hepatitis C failed in a trial.

Valeant said that the experimental drug didn’t work as well as ribavirin, the standard treatment.

The Costa Mesa-based company said it would continue to develop Viramidine because the study also showed that it did better than ribavirin when given at higher doses relative to body weight and that it caused less anemia.