Financial Report: Gilead Sciences 3Q

Gilead Sciences

3Q Revenues: $1.4 billion (+30%)

3Q Earnings: $504 million (+27%)

YTD Revenues: $3.9 billion (+25%)
 
YTD Earnings: $1.4 billion (+19%)

Comments: The company achieved record revenues in the quarter. Growth was driven by the company’s antiviral franchise, with sales up 39% to $1.2 billion, including strong performances by Atripla and Truvada, with sales up 77% to $427.6 million and 34% to $549.1 million, respectively. Viread sales were $156.0 million in the quarter (+5%). Sales of Hepsera increased 15% to $91.2 million, driven primarily by a favorable foreign exchange impact and sales growth in North America and certain European markets. Sales of AmBisome were up 6% to $72.9 million. Royalty, contract and other revenues were $32.8 million, down 66% due to lower Tamiflu royalties from Roche ($8.6 million in 3Q08 compared to $77.4 million in 3Q07). R&D expenses were $188.1 million in the quarter (+34%).