Pharmasset

Pharmasset is a pharmaceutical company that was established in 1998. It is primarily known for its research and development of antiviral drugs. The company was acquired by Gilead Sciences in 2012.

History

Pharmasset was founded in 1998 by Raymond Schinazi, Dennis Liotta, and Choongho Lee. The company was initially based in Atlanta, Georgia, and focused on the development of antiviral drugs. In 2004, Pharmasset went public and was listed on the NASDAQ stock exchange.

In 2011, Pharmasset made headlines with its experimental drug sofosbuvir, a potential treatment for hepatitis C. The drug showed promising results in clinical trials, leading to a significant increase in the company's stock price.

In 2012, Pharmasset was acquired by Gilead Sciences, a biopharmaceutical company based in Foster City, California. The acquisition was valued at approximately $11 billion.

Products

Pharmasset's primary focus was on the development of antiviral drugs. The company's most notable product is sofosbuvir, a drug used in the treatment of hepatitis C. Sofosbuvir is a nucleotide analogue that inhibits the hepatitis C virus (HCV) NS5B protein.

Other products developed by Pharmasset include racivir, a drug for the treatment of HIV, and PSI-7977, a drug for the treatment of hepatitis C.

Acquisition by Gilead Sciences

In 2012, Gilead Sciences acquired Pharmasset for approximately $11 billion. The acquisition was primarily driven by Pharmasset's promising hepatitis C drug, sofosbuvir. Following the acquisition, Gilead Sciences continued the development of sofosbuvir, which was eventually approved by the Food and Drug Administration (FDA) in 2013.

Impact

The acquisition of Pharmasset by Gilead Sciences has had a significant impact on the treatment of hepatitis C. Sofosbuvir, the drug developed by Pharmasset, is now a key component of several hepatitis C treatment regimens. The drug has been praised for its high cure rates and low side effects.

See also

• Gilead Sciences
• Hepatitis C
• Antiviral drug