LOS ANGELES, July 31 ― Gilead Sciences Inc yesterday posted worse-than-expected quarterly results, but raised its 2020 sales forecast to include revenue from its antiviral drug remdesivir, one of the only treatments shown to help Covid-19 patients. Gilead said it expects total 2020 sales of US$23...
Friday, 31 Jul 2020 07:45 AM MYT
Gilead said it expects total 2020 sales of US$23 billion to US$25 billion, up from its previous range of US$21.8 billion to US$22.2 billion. The results reflected weak sales of Gilead's hepatitis C drugs and flagship HIV treatments during coronavirus pandemic lockdowns. The company said it expects its HIV drugs and hepatitis C sales to begin regaining momentum in the current third quarter.
Gilead this month began commercial sales of remdesivir, which is given to hospitalised patients by infusion. The drug was granted emergency use authorization by the US Food and Drug Administration in May after it demonstrated an ability to shorten hospital stays for Covid-19 patients, but does not yet have full US approval. It was approved in Japan.
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