Financial Report: Gilead

Gilead

4Q Revenues: $5.9 billion (flat)

4Q Earnings: $2.7 billion (nm)   

FY Revenues: $22.4 billion (+1%)

FY Earnings: $5.4 billion (-2%)

Comments: Product sales for the fourth quarter of 2019 were $4.5 billion in the United States, $840 million in Europe and $440 million in other locations. HIV product sales were $4.6 billion in the quarter, up 12% primarily driven by higher sales volume as a result of the continued uptake of Biktarvy. Chronic hepatitis C virus (HCV) product sales were $630 million for the fourth quarter, down 15%. Yescarta generated $122 million in sales during the quarter, compared to $81 million in 4Q18. Other product sales, which include products from chronic hepatitis B virus (HBV), cardiovascular, oncology and other categories, inclusive of Vemlidy, Viread, Letairis, Ranexa, Zydelig, AmBisome and Cayston, were $467 million for the quarter compared to $797 million for the same period in 2018. The decreases were primarily due to declines in Ranexa and Letairis sales after generic entries in 2019.