The purpose of this study is to determine if treatment with Pegylated Interferon Lambda-1a, given in combination with Ribavirin and Daclatasvir for 24 weeks, is as safe and effective as the standard treatment with Pegylated Interferon Alfa-2a + Ribavirin + Telaprevir in subjects who are infected with Chronic Hepatitis C virus genotype 1b and have never received any prior anti-HCV treatment, or who have relapsed after an initial, successful treatment with Pegylated Interferon Alfa + Ribavirin

Inclusion Criteria:

• Patients chronically infected with HCV Genotype-1b
• Naïve to prior treatment or documented evidence of relapse after completion of the prescribed duration of treatment (duration may be 24 or 48 weeks, to be determined based upon local guidelines)
• HCV RNA viral load ≥100,000 IU/mL at screening
• Patients with compensated cirrhosis are permitted

Exclusion Criteria:

• Infection with Hepatitis C virus (HCV) other than Genotype-1b

• Positive Hepatitis B surface antigen (HBsAg) or Human immunodeficiency virus (HIV)-1/HIV-2 antibody test at screening

• Evidence of chronic liver disease caused by diseases other than chronic HCV infection

• Current evidence of or history of variceal bleeding, hepatic encephalopathy, or ascites requiring diuretics or paracentesis or evidence of any of these findings on physical examination performed at screening

• Current or known history of cancer (except adequately treated in situ carcinoma of the cervix, or basal or squamous cell carcinoma of the skin) within 5 years prior to screening

• Current evidence or known history of decompensated cirrhosis based on radiologic criteria or biopsy results and clinical criteria

• Laboratory values:

  1. Hemoglobin <12.0 g/dL (males) or <11.0 g/dL (females)
  2. Platelets <90,000/mm3
  3. Total serum bilirubin ≥2 mg/dL (unless due to Gilbert's disease)