Stockwatch: Awaking from bad dreams and nightmares
This article was originally published in Scrip
Executive Summary
The 51st Interscience Conference on Antimicrobial Agents and Chemotherapy (ICAAC) wound down in Chicago this week and coincided with Gilead Sciences’ announcement of a second positive phase III clinical trial for its 'Quad' once daily treatment for HIV infection (scripintelligence.com, 21 September 2011). The two events are closely linked and the history between them should give investors in Gilead significant hope for the continued dominance of Gilead's anti-HIV franchise in the developed world. Reassuringly for believers in the rationality of the stock market, the assessment of Gilead's prospects by investors have been firmly based on the fundamental measures, namely the performance of its anti-HIV drugs and drug combinations relative to those of its rivals.