It was a big day for investors watching the race to create the next generation of hepatitis-C drug cocktails. Most of the major players released data for the European Association for the Study of the Liver conference today.

In the following video segment, health-care analyst David Williamson explains why former front-runner Bristol-Myers Squibb may have returned from the wilderness of a big drug failure to launch a second effort at claiming the crown for treating this disease. Watch and find out how Bristol matches up with its two biggest competitors, Gilead and AbbVie. Both have treatments in phase 3 trials, and Gilead recently submitted an application for approval of its cornerstone drug sofosbuvir earlier in the month. Provided no hiccups, Gilead should be able to commercialize the drug within a year, if the FDA sticks to its first-quarter 2014 deadline.

Editor's note: This video incorrectly states that Gilead's drug sofosbuvir would be available commercially by the end of the year. Given the FDA's timeline, if approved, a 2014 launch is more likely.

David Williamson has no position in any stocks mentioned. Follow David on Twitter: @MotleyDavid.

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