Idenix Pharmaceuticals Shares Surged: What You Need to Know

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of biotech firm Idenix Pharmaceuticals (Nasdaq: IDIX  ) jumped as much as 11.9% on higher-than-average trading volume.

So what: Bristol-Myers Squibb (NYSE: BMY  ) and Johnson & Johnson (NYSE: JNJ  ) just partnered up to study a two-company drug cocktail to treat chronic hepatitis C. The giants hope to find an effective hep-C treatment that doesn't rely on interferons and other injections with severe side effects -- and Idenix's IDX184 happens to target exactly that market.

Now what: Already in phase 2b FDA trials, IDX184 is Idenix's greatest hope for a future blockbuster at the moment. The oral drug is designed to enhance the efficiency of other medications, which is why the stock jumped on today's news -- Idenix doesn't have a big-name partner for the endgame yet and might end up arm-in-arm with J&J or Bristol-Myers. The firm is no stranger to big-name collaborations, having licensed hepatitis B medication Tyzeka to Novartis (NYSE: NVS  ) for worldwide marketing.

Interested in more info about Idenix Pharmaceuticals? Click here to add it to My Watchlist.

Fool contributor Anders Bylund holds no position in any of the companies mentioned. The Motley Fool owns shares of Johnson & Johnson. Motley Fool newsletter services have recommended buying shares of Johnson & Johnson and Novartis. We have also recommended creating a diagonal call position in Johnson & Johnson. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinion, but we all believe that considering a diverse range of insights makes us better investors. Check out Anders' holdings and bio, or follow him on Twitter and Google+. We have a disclosure policy.

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