Achillion’s Hepatitis C Drug Remains on Hold by U.S. Regulators

Achillion Pharmaceuticals Inc. said U.S. regulators are keeping the company’s experimental hepatitis C drug sovaprevir on hold because of abnormal liver results. The shares plunged 45 percent in extended trading.

While Achillion responded to all the issues raised by the Food and Drug Administration in June, the agency determined the drug’s development shouldn’t resume, the New Haven, Connecticut-based company said today in a statement. Achillion will focus on other hepatitis C drugs in its portfolio, with results of a planned combination study of two medications by next year, Chief Executive Officer Milind Deshpande said.