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Financial Report: Gilead

HCV product sales down 33% in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

Gilead
3Q Revenues: $6.5 billion (-13%)
3Q Earnings: $2.7 billion (-18%)
YTD Revenues: $20.2 billion (-13%)
YTD Earnings: $8.5 billion (-18%)
Comments: Antiviral product sales, which include HIV, chronic hepatitis B (HBV) and chronic hepatitis C (HCV) products, were $5.8 billion in the quarter, down 15%.HIV and HBV product sales were $3.6 billion, up 3% primarily due to the continued uptake of our tenofovir alafenamide (TAF) based products, Genvoya, Descovy, and Odefsey. HCV product sales, which consist of Harvoni, Sovaldi, Epclusa, and Vosevi, were $2.2 billion, down 33% due to lower sales of Harvoni and Sovaldi across all major markets, partially offset by sales of Epclusa, which was approved in the U.S. and Europe in June and July 2016, respectively, and sales of Vosevi, which was approved in the U.S. and Europe in July 2017. Other product sales, which include Letairis, Ranexa and AmBisome, were $559 million for the quarter, down 1%.

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