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Gilead FY Revenues up 11%

Veklury (remdesivir) sales down 30% in the quarter due to decreased demand.

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By: Kristin Brooks

Managing Editor, Contract Pharma

Gilead
4Q Revenues: $7.2 billion (-2%)
4Q Earnings: $376 million (earnings were $1.5 billion 4Q21) 
FY Revenues: $27.3 billion (+11%)
FY Earnings: $6.2 billion (earnings were $89 million FY21)
Comments: Total product sales in the quarter decreased 2% to $7.2 billion due to decreased demand for Veklury (remdesivir), partially offset by favorable pricing dynamics in HIV. Total product sales excluding Veklury increased 8% to $5.8 billion for the quarter, primarily reflecting higher demand for Biktarvy, as well as contributions from Trodelvy and Cell Therapy.

Veklury sales decreased 30% to $1.4 billion in the quarter. Sales of Veklury are generally affected by COVID-19 related rates of infections, hospitalizations and vaccinations as well as the availability, uptake and effectiveness of alternative treatments for COVID-19. 
 
HIV product sales increased 7% to $4.5 billion, reflecting higher Biktarvy demand and favorable pricing dynamics in HIV, partially offset by the loss of exclusivity of Truvada and Atripla in the U.S. Biktarvy sales increased 22% in the quarter. Truvada and Atripla sales decreased 58% and 29%, respectively, in the quarter.

Hepatitis B virus (HBV) and hepatitis delta virus (HDV) product sales increased 9% to $265 million. Vemlidy sales increased 17%. Hepcludex contributed $12 million in the quarter as launch activities continued across Europe. 
 
Cell Therapy product sales increased 47% to $239 million. Yescarta sales increased to $182 million. Tecartus sales increased to $57 million. Trodelvy sales were $118 million.
 
Earnings in the quarter were impacted by a $1.25 billion charge related to a legal settlement and a charge of $625 million related to the Arcus Biosciences.

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