The Wall Street Journal (10/28, Stynes, Rockoff,
Subscription Publication) reports Gilead Sciences Inc. disclosed its
third-quarter revenue from its costly hepatitis C treatment Sovaldi
(sofosbuvir) dipped 20 percent from the second-quarter period, as physicians
awaited the entry of another hepatitis C medicine Harvoni (ledipasvir and
sofosbuvir).
Providing additional details of the company’s third-quarter earnings, Bloomberg News (10/28, Chen) reports that
although Gilead’s third-quarter earnings missed analysts’ estimates, “after
paying a fee to U.S. from Obamacare and reporting lower-than-projected revenue”
for Sovaldi, its profit more than tripled to $2.73 billion. Revenue from
Sovaldi totaled $2.8 billion in the third quarter,” less than the $2.96 billion
average of 14 analysts’ estimates compiled by Bloomberg.” Overall, its revenue
for the quarter “more than doubled to $6.04 billion from a year earlier, making
it the world’s biggest biotechnology company,” the piece adds.
Modern Healthcare (10/28, Subscription
Publication) also covers the news.
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