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 companies in the highly publicized hepatitis C sector are vacillating wildly today following news from Gilead Sciences
So what: To make things even more confusing, Idenix Pharmaceuticals
Now what: The real reason most of the sector is down is that Gilead's drug has the potential to make all other drug hopefuls obsolete. The sheer effectiveness and time frame with which GS-7977 has worked is beyond phenomenal, and there's a decent possibility that companies such as Achillon and Idenix are fighting a losing battle. This could also be bad news for Bristol-Myers Squibb
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Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.
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