Friday, July 31, 2015

Gilead Sales Soar on Hepatitis Drugs - Sales of Harvoni, Sovaldi top estimates despite increased competition

Gilead Sciences Inc. said its two key hepatitis C drugs, Sovaldi and Harvoni, generated about $4.9 billion in sales in the second quarter, topping Wall Street estimates, thanks to better-than-expected sales of the newer Harvoni.

For the year, the company again raised its guidance for net product sales, this time by $1 billion, and now expects sales to reach $29 billion to $30 billion.

Shares of Gilead, up 24% over the past year, rose 3.2% to $116.99 in recent after-hours trading.


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