Financial Report: Gilead

Gilead
2Q Revenues: $5.6 billion (-21%)
2Q Earnings: $1.8 billion (-41%)
YTD Revenues: $10.7 billion (-21%)
YTD Earnings: $3.4 billion (-42%)
Comments: HIV product sales were $3.7 billion in the quarter up 16%, primarily due to continued uptake of Biktarvy and Descovy, Genvoya, and Odefsey. Chronic hepatitis C (HCV) product sales, which consist of Epclusa, Harvoni, Vosevi, and Sovaldi, were $1.0 billion in the quarter, down 66%. The decline was primarily due to lower sales of Harvoni, Epclusa and Sovaldi across all major markets as a result of increased competition. Yescarta, which was launched in the U.S. in October 2017, generated $68 million in sales during the quarter.