FDA Approves Gilead's Sovaldi Drug For Treating Hepatitis C; Breakthrough Drug Costs $1000 A Day

The U.S. Food and Drug Administration, or FDA, on Friday approved a drug that will make the treatment of chronic hepatitis C faster, easier and more effective. The FDA described the new medication Sovaldi (sofosbuvir) developed by Gilead Sciences (NASDAQ:GILD) as a breakthrough therapy, as its showed substantial improvement over available therapies for treating hepatitis C virus, or HCV. The pill may be administered to patients who are unable to take interferon-based medication, and to liver can...