Achillion Sinks on Hepatitis C Drug FDA Hold: New York Mover
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Achillion Pharmaceuticals Inc. plunged 58 percent after U.S. regulators kept the company’s experimental hepatitis C drug sovaprevir on hold because of abnormal liver results.
Achillion sank to $3.02 at 4 p.m. New York time in its biggest drop since the shares started trading in 2006. The New Haven, Connecticut-based company has lost 62 percent this year.