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Gilead Sciences

Antivirals lead the way, but EU challenges could hurt future revenues

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Gilead Sciences 2Q10

2Q Revenues: $1.9 billion (+17%)

2Q Earnings: $712 million (+25%)

YTD Revenues: $4.0 billion (+26%)

YTD Earnings: $1.6 billion (+35%)

Comments: Antiviral sales in 2Q10 rose 13% to $1.6 billion in 2Q10, led by Atripla (+26%, $716 million) and Truvada (+6%, $642 million). The company reduced its sales estimates for FY10 by $100 million, citing price challenges in the EU. Sales of pulmonary arterial hypertension treatment Letairis were up 37% to $60 million in 2Q10, while angina treatment Ranexa picked up 68% to $61 million. Royalty revenues jumped 53% to $121 million, due mainly to Gilead’s Tamiflu alliance with Roche.

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