Limited impact on Gilead expected from Idenix lawsuit: Wells

|About: Idenix Pharmaceuticals, Inc. (IDIX)|By:, SA News Editor

Idenix Pharmaceuticals (IDIX -5%) announced earlier that it has filed two lawsuits against Gilead Sciences (GILD -0.7%): A patent infringement lawsuit in the U.S. District Court in Boston, Massachusetts and a separate patent infringement and interference lawsuit in the U.S. District Court in Wilmington, Delaware.

In the view of Wells Fargo analyst Brian Abrahams, the impact on GILD is likely to be minimal.

"Though this could potentially provide IDIX another means of challenging GILD, we expect the process to be lengthy and potentially take years to resolve; ultimately, we do not expect significant negative impact on GILD's future HCV revenues and expect continued momentum for GILD shares into the Phase 3 alloral data, sofosbuvir launch, and maturing oncology pipeline," Abrahams says.