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Financial Report: Gilead Sciences 1Q11

Sales of Atripla were up 7% to $744.5 million. Sales of Truvada were up 2% to $673.1 million.

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Gilead Sciences 1Q11

1Q Revenues: $1.9 billion (-8%)

1Q Earnings: $651.1 million (-24%)

Comments: Sales of Atripla were up 7% to $744.5 million. Sales of Truvada were up 2% to $673.1 million. Viread sales were down 7% to $168.4 million, due to lower sales volume in Brazil. Sales of Letairis were $62.2 million (+12%). Ranexa sales were up 33% to $68.3 million. Other product sales accounted for $147.1 million. Royalty, contract and other revenues from collaborations were $62.5 million in the quarter, down 79%, due to lower Tamiflu royalties from Roche of $11.1 million compared to $246.3 million in 1Q10. Results in the quarter were impacted by the 95% drop in Tamiflu royalties.

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