Valeant says hepatitis C drug causes less anemia

Ribavirin and peginterferon are considered the standard of care regimen for hepatitis C. Speaking at the Goldman Sachs Global Healthcare Conference, Valeant Senior Vice President of Drug Development Harry Mansbach said that many patients, however, develop anemia upon taking ribavirin.

Mansbach said that because fewer cases of anemia have been associated with Valeant's taribavirin drug, it could be prescribed instead of ribavirin for hepatitis C patients at risk for anemia, such as those who also are HIV-positive.

Chief Executive J. Michael Pearson said, though, that the company won't move taribavirin into late-stage trials until a partner for the drug is found.

Vertex Pharmaceuticals Inc. and Schering-Plough Corp. also have hepatitis C drugs in mid-stage development. Both Vertex's telaprevir and Schering-Plough's boceprevir would be added to standard therapy.

Separately, Pearson said Valeant is eyeing an application for its late-stage epilepsy drug retigabine in the third quarter. He noted that following the release of positive late-stage data in May, partnership interest in the drug has accelerated.

Over the past six months, Valeant has been undergoing a strategic restructuring, which has included selling off some of its drugs, reducing staff and divesting some of its operations around the world.

On Tuesday, Valeant divested its Argentina commercial operations for an undisclosed sum. In January, it sold its hepatitis C drug Infergen to Three Rivers Pharmaceuticals LLC for about $91.3 million.

Valeant shares rose 69 cents, or 4.3 percent, to $16.66 in midday trading.