Bristol-Myers to Buy Rights to Hep C Drug

Stock quotes in this article: ZGEN , BMY , HGSI , SGP , ITMN , VRTX  

ZymoGenetics is testing a once-weekly and once-every-two week dosing schedule for PEG-Interferon lambda.

Bristol-Myers is not a major player in hepatitis C, but the company is in early-stage testing with a new drug, BMS 790052, that aims to target the virus by working against a protein known as NS5a.

ZymoGenetics' stock price has fallen from $12 to less than $3 over the past year due to disappointing sales of Recothrom, a drug that helps surgeons control bleeding.

ZymoGenetics' shares closed up roughly 8% to $3.12 Monday, and Bristol-Myers shares closed down about 1% to $22.14.

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Adam Feuerstein writes regularly for TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.





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