Financial Report: Gilead 4Q

Gilead
 

4Q Revenues: $1.4 billion (+30%)
 

4Q Earnings: $568.2 million (+41%)
 

FY Revenues: $5.3 billion (+26%)
 

FY Earnings: $2.0 billion (+25%)
 

Comments: Product sales increased 35% to a record $1.4 billion in the quarter and for the year product sales were up 36% to $5.08 billion, driven primarily by Gilead’s antiviral franchise, and growth in sales of Atripla and Truvada. Antiviral product sales were up 35% to $1.3 billion in the quarter and increased 36% to $4.67 billion for the year. Truvada sales increased 25% to $562.1 million in the quarter and increased 33% to $2.1 billion for the year. Atripla sales were up 79% to $465.5 million in the quarter and increased 74% to $1.6 billion for the year. Sales of pulmonary arterial hypertension drug Letairis were $36.2 million in the quarter, up from $14.8 million in 4Q07; and for the year, sales were $112.9 million compared to $21.0 million in 2007. Royalty, contract and other revenues were $40.4 million in the quarter, down 41% and for the year were $251.0 million, down 49% due to lower Tamiflu royalties from Roche.