gilead-sciences

Gilead lowers full-year guidance as sales and profits down in Q2

pharmafile | July 26, 2016 | News story | Manufacturing and Production, Research and Development, Sales and Marketing |  2016, Gilead, Q2, results 

Gilead Sciences has announced its financial results from the second quarter of this year, with sales and profits taking a hit and the company lowering its full year forecast for net product sales as a result.

Declining sales of blockbuster hepatitis C drugs, such as Harvoni, contributed to the decline in sales, with figures of $4 billion compared to $4.9 in the same period in 2015. Overall, total revenues were $7.8 billion compared to $8.2 billion last year. Similarly, net income fell from $4.5 billion to $3.5 billion.

Things were not all bad for Gilead, however, as Q2 sales of their HIV drugs beat expectations. TAF-based products such as  Genvoya, Descovy and Odefsey helped to boost sales from $2.7 billion last year to $3.1 billion.

Advertisement

In terms of product pipeline, the FDA granted approval for Gilead’s next-generation hepatitis C drug, Epclusa, during this quarter. It is hoped that this drug will reinvigorate their declining sales in the hepatitis C arena. EU approval of Odefsey also signifies further promise in the HIV field going forward.

Full sales guidance for the year has now been lowered to between $29.5 billion and $30.5 billion, rather than the previously indicated $30 billion to $31 billion.

Markets reacted poorly to the results, with stock falling 4% in after-hours trading at the time of writing.

Sean Murray

Related Content

Gilead’s HIV treatment meets primary trial endpoint

Gilead has announced positive topline results from its phase 3 ARTISTRY-2 trial, which evaluated a …

Gilead announces first shipments of HIV prevention drug to Eswatini and Zambia

Gilead has announced the first shipments of its HIV prevention drug lenacapavir to Eswatini and …

Gilead shares phase 3 results from HIV prevention trial

Gilead Sciences has announced results from an interim analysis of its pivotal, phase 3 PURPOSE …

The Gateway to Local Adoption Series

Latest content