Seeking Alpha

Shares of Achillion (ACHN -11%) drop hard on the back of competitor Gilead's (GILD +12%)...

Shares of Achillion (ACHN -11%) drop hard on the back of competitor Gilead's (GILD +12%) positive results from Phase 2 testing of its Hep C antiviral drug ribavirin. ACHN is developing its own hepatitis C virus treatment which has performed well in tests. Wells Fargo's Brian Abraham says ACHN is "well-positioned" to participate in the HCV market, and today's weakness creates a buying opportunity.
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