Financial Report: Gilead 1Q

Gilead 1Q

1Q Revenues: $1.5 billion (+22%)

1Q Earnings: $589.1 million (+21%)

Comments: Product sales were up 27% to a record $1.5 billion driven by the antiviral franchise, with sales up 28% to $1.3 billion. Truvada sales increased 23% to $590.4 million; Atripla sales were up 57% to $509.9 million; other antiviral product sales, including Viread, Hepsera, and Emtriva, were $240.6 million (-1%). Sales of Letairis for the treatment of pulmonary arterial hypertension were up 95% to $39.6 million. Royalty, contract and other revenues were $82.9 million (-29%). This decrease was driven primarily by lower Tamiflu sales.