Medivir AB rose to its highest level in 10 months in Stockholm trading after results from three late-stage trials of hepatitis treatment simeprevir showed the same safety and efficacy as earlier studies.
The shares rose as much 19 percent, the biggest intraday gain since Feb. 17. Medivir had gained 14 percent to 71.75 kronor as of 10:10 a.m. in the Swedish capital. Volume was five times the three-month daily average.
The studies of simeprevir, a one-pill, once-daily treatment of chronic hepatitis C, jointly developed by Janssen and Medivir, showed viral cure rates of 79 percent to 81 percent in treated patients, Stockholm-based Medivir said today in a statement. Hepatitis C may lead to chronic liver disease and the World Health Organization estimates about 3 percent of the world’s population is infected, Medivir said.
“We are extremely happy about the data from these phase III studies,” said Charlotte Edenius, head of Medivir’s Research and Development. “We look forward to seeking regulatory approvals to bring simeprevir forward.”