According to Bloomberg.com articles by David Voreacos and Drew Armstrong, Bristol-Myers Squibb (BMY) has suspended a clinical trial for BMS-986094 because a patient developed heart failure:
“Bristol gained the compound in January with the acquisition of Inhibitex Inc. for $2.5 billion. The purchase was designed to put the company in a lead role in gaining approval of a new generation of medicines to treat the estimated 170 million patients with hepatitis C. The hepatitis C market is estimated at $20 billion for the new pills designed to work more quickly with fewer side effects for those with the liver infection.”
Meanwhile, on August 2, BMY executive, Robert Ramnarine, was nabbed for insider trading in New Jersey. He had material nonpublic information about Pharmasset, which was working on new oral drugs for HCV. A Bloomberg.com article says that the SEC was “so suspicious of the circumstances surrounding Gilead Sciences Inc. announcement it was buying Pharmasset Inc. for $11 billion that they opened an insider-trading investigation that day.” Ramnarine’s greedy actions playing HCV-related stocks, are made clear in the 22-page SEC complaint. The short version of “dumb and dumber” is enough to make one cringe. For example, he searched the phase “can stock option be traced to purchaser” on his company computer. The answer, of course, is “yes!”

That’s some good news! If there is that much money to be had that they want to buy up the companies that make the drug then we should see the “pill” out for public consumption sooner than later. The really big inside traders don’t get caught because it’s just part of the business. The little “self Help” traders that get popped are the SEC’s delight! I don’t think one heart failure wil stop the trials. Look at how many died during the Pegasys trials in the late 90s. That interferon is really bad mojo. They need to put it back on the shelf where it belongs. Big-pharma knew they could push the interferon poison for a while, but now that cash cow has dried up. Simply because it cripples and kills people and now the cat is out of the bag.
Yeah, they are forecasting a staggering amount of profits from HCV–illicit and legal. I agree that the trials will go on since Big Pharma can’t make the big bucks from dead folks.