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New AbbVie hepatitis C regimen shows high cure rates: studies

An experimental once-daily combination hepatitis C treatment being developed by AbbVie Inc demonstrated very high cure rates across a wide range of disease genotypes, according to data presented on Saturday, likely giving the company a more competitive product if approved. Cure rates of 97 percent to 100 percent over either eight or 12 weeks of treatment were achieved in the clinical trials with the one pill, once-a-day combination of ABT-493 and ABT-530, which use different methods to block virus replication. The combination would provide greater convenience for a wider variety of patients than AbbVie's Viekira Pak, improving chances of making inroads into the market domination currently enjoyed by Gilead Sciences Inc. Viekira Pak, which is approved for genotype 1, the most common form of the serious liver disease in the United States, consists of four drugs and involves taking three pills in the morning and one in the evening.

Wall St. gains, buoyed by GE divestment plan

The S&P Industrials was up 1.3 percent as the best performing of the 10 major S&P sectors, paced by GE's gain. General Electric jumped 8.7 percent to $27.96 as the most active stock on the New York Stock Exchange, with more than 120 million shares changing hands. “I expect buybacks to continue because a lot of major stocks, including Apple, are undervalued,” Adam Sarhan, chief executive of Sarhan Capital in New York. GE will sell the bulk of its $30 billion real estate portfolio over the next two years as it returns to its industrial roots, with Blackstone and Wells Fargo snapping up most of its assets.

Pfizer in $5 billion accelerated buyback deal with Goldman, Sachs & Co

(Reuters) – Drugmaker Pfizer Inc said it entered into an agreement with Goldman, Sachs & Co to buy back $5 billion of its stock. Pfizer said the accelerated share repurchase was assumed in the forecast for the full year it provided last month. Under the agreement, which forms a part of Pfizer's existing buyback authorization, about 150 million shares will be bought. The settlement is expected during or prior to the third quarter. Shares of the New York-based company closed at $33.06 on the New York Stock Exchange on Monday. …