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

|About: Achillion Pharmaceuticals, ... (ACHN)|By:, SA News Editor

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.