Bristol-Myers Wins Approval In China For Oral Treatment For Chronic Hepatitis C Virus

By Ciara Linnane Markets MarketWatch Pulse

Shares of Bristol-Myers Squibb Co. said Friday it has won approval from the China Food and Drug Administration for its oral treatment for chronic hepatitis C virus. The drug company said Daklinza in combination with Sunvepra will be China's first all-oral regimen for the disease. Daklinza has already been approved for use in combination with other agents. "The burden of HCV in China is extremely high, and now for the first time, we have an all-oral treatment option in the combination of Daklinza and Sunvepra, which is a significant step forward for patients and doctors alike," said Hui Zhuang, a professor at the Beijing University Medical School and a member of the Chinese Academy of Engineering, in a statement. HCV is the fourth most commonly reported infectious disease in China with about 10 million people currently suffering from it across the country. Bristol-Myer shares rose about 0.8% premarket, but are down 4.7% in 2017, while the S&P 500 has gained 6.7%.

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