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Financial Report: Gilead

Product sales up 19%

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Gilead

1Q Revenues: $2.3 billion (+19%)

1Q Earnings: $437.5 million (-32%)

Comments: Revenue growth in the quarter was driven by increased sales of Atripla and Truvada, and the launch of Complera/Eviplera. Atripla sales increased 19% to $887.6 million and Truvada sales were up 13% to $758.3 million. Sales of Complera/Eviplera more than doubled to $52.2 million compared to 4Q11. Sales of Viread increased 14% to $191.7 million. Royalty, contract and other revenues from collaborations were $74.1 million in the quarter, up 19%. Earnings included $193.9 million of acquisition-related compensation expense related to the Pharmasset acquisition.

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