Hep C drugs help double Gilead’s Q1 earnings

By SELINA MCKEE

Gilead has booked huge increases in sales and earnings for the first quarter of 2015, driven by strong growth of its hepatitis C drugs.

The drugmaker posted a rise in total revenues from $5 billion to $7.6 billion, propelling a 95% rise in net income to $4.3 billion, or $2.76 per diluted share.

Product sales leapt 52% to $7.4 billion, as sales of its hepatitis C drug Harvoni (ledipasvir/sofosbuvir), approved in the US and Europe in the fourth quarter of last year, hit $3.6 billion, offsetting a decline in Sovaldi (sofosbuvir) turnover, which plummeted to $972 million from $2.3 billion, because of pricing discounts.

All-in-all revenue from antivirals, which includes the firm’s HIV portfolio, jumped to $7.0 billion from $4.5 billion a year ago.

On the back of its performance Gilead has raised its 2015 sales forecast by $2 billion, now expecting to generate around $28 billion-$29 billion.

Now secure in its success with existing hepatitis and HIV offerings, it seems the company may be looking further afield to broaden its horizons. In a call to investors, the firm’s chief executive John Martin reportedly said now would be a “good time for Gilead to consider a wide range of things”, and that he would consider buying in therapies in its standing areas of expertise, according to Fortune.


http://www.pharmatimes.com/Article/15-05-01/Hep_C_drugs_help_double_Gilead_s_Q1_earnings.aspx



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