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Financial Report: Gilead Sciences

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Gilead Sciences
 
4Q Revenues: $1.1 billion (+22%)

4Q Earnings: $401.6 million (loss of $1.7 billion in 4Q06)*

FY Revenues: $4.2 billion (+40%)

FY Earnings: $1.6 billion (loss of $1.2 billion FY06)*

Comments: Product sales were a record $1 billion for the quarter (+34%), driven by HIV product franchise and the growth of Atripla and Truvada. HIV product sales were $864.2 million in the quarter (+35%) and $3.1 billion for the year (+48%). Truvada sales were up 33% in the quarter and FY07 to $448.8 million and $1.6 billion, respectively. Atripla sales were $259.7 million in the quarter (+89%). Atripla became available in the U.S. in 3Q06. Viread sales were down 7% to $148.5 million in the quarter and down 11% for the year to $613.2 million due to lower sales volume especially in the U.S. Emtriva sales were down 16% to $7.1 million for the quarter and 13% for the year to $31.5 million.

*For the quarter and FY2006, the company incurred $2.0 billion and $2.4 billion, respectively, of purchased in-process R&D expenses as a result of the acquisitions of Corus in August 2006 and Myogen in November 2006.

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