Financial Report: Gilead

Gilead
1Q Revenues: $5.1 billion (-22%)
1Q Earnings: $1.5 billion (-43%)
Comments: Antiviral product sales, which include sales of HIV, chronic hepatitis B (HBV) and chronic hepatitis C (HCV) products, were $4.4 billion in the quarter, down 24%. HIV and HBV product sales were $3.3 billion, up 2% primarily due to the continued uptake of tenofovir alafenamide (TAF)-based products, which include Genvoya, Descovy and Odefsey. HCV product sales, which consist of Epclusa, Harvoni, Vosevi and Sovaldi, were $1.0 billion, down 59% primarily due to lower sales of Harvoni and Sovaldi across all major markets and lower sales of Epclusa in the U.S. as a result of increased competition.