Financial Report: Gilead 3Q

Gilead 3Q

3Q Revenues: $1.9 billion (+8%)

3Q Earnings: $702.2 million (+5%)

YTD Revenues: $6.0 billion (+20%)

YTD Earnings: $2.3 billion (+24%)

Comments: Product sales were up 13% to $1.9 billion in the quarter. Antiviral product sales were $1.7 billion (+12%), with Atripla sales up 23% to $742.7 million, Truvada sales up 8% to $668.7 million, and Viread sales up 9% to $184.3 million. Sales of Letairis for the treatment of pulmonary arterial hypertension were up 26% to $60.4 million. Sales of Ranexa for chronic angina increased 23% to $60.3 million. Royalty, contract and other revenues, primarily from collaborations, were $72.1 million, down from $152.4 million in 3Q09. This drop was primarily due to lower Tamiflu royalties from Roche, which were $34.5 million in the quarter, compared to $113.5 million in 3Q09.