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What: Shares of hepatitis-C-focused biotechnology firm Idenix Pharmaceuticals
So what: Idenix Pharmaceuticals received word from the Food and Drug Administration in a letter today that it was placing a hold on IDX184, a mid-stage treatment for hepatitis C that had shown significant efficacy in recent studies. According to the FDA, the reason for the hold stems from an adverse cardiac event that happened with a competitors' nucleotide polymerase inhibitor. That letter is referring to Bristol-Myers Squibb
Now what: Don't for one second think this is a reason to run out and buy Achillion Pharmaceuticals
Craving more input? Start by adding Idenix Pharmaceuticals to your free and personalized watchlist so you can keep up on the latest news with the company.
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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