Gilead’s Sovaldi Awarded Breakthrough Designation

| + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

A number of drugs currently in development were approved for a “breakthrough therapy” designation from the Food and Drug Administration this past year, with Gilead Sciences’ (NASDAQ:GILD) Sovaldi, a medicine used to treat hepatitis C, leading the group, reports Bloomberg.

2013 saw 27 new drug approvals for the breakthrough therapy designation. The program, which is new as of 2012, is intended to cut down on the red tape associated with bringing drugs to the market. In the program’s inaugural year, the FDA cleared 39 drugs for the designation.

According to the FDA, a breakthrough therapy is one that treats “a serious or life-threatening disease or condition” alone or in combination with other drugs, and which evidence suggests “may demonstrate substantial improvement over existing therapies on one or more clinically significant endpoints.”

Gilead’s pill, developed for the treatment of hepatitis C, is designed to cut the treatment time of its patients by half. Other companies that were also given the sought-after breakthrough therapy designation include Imbruvica, a drug developed as part of a partnership between Johnson & Johnson (NYSE:JNJ) and Pharmacyclics Inc. (NASDAQ:PCYC), and Gazyva, a drug developed to treat chronic lymphocytic leukemia by Roche Holding AG.

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business