Tag Archive for: Veklury

Hit with lower sales of its COVID-19 antiviral Veklury and the weak performance of its HIV franchise, Gilead Sciences reported a 4% year-over-year revenue loss in the fourth quarter of 2023.

In the third quarter, Gilead‘s growth in its HIV and oncology businesses was nearly completely offset by declining sales from its COVID-19 drug Veklury (remdesivir) and hepatitis C virus portfolio.

While the company is no longer enjoying the benefit of enormous sales for its COVID treatment Veklury, Gilead is still doing very nicely, thank you very much.

The company said it now expects sales of Veklury, known generically as remdesivir, to total $1.7 billion this year, down from its previous estimate of around $2 billion.

Gilead Sciences Inc. on Tuesday unveiled data from the first human study of its experimental oral COVID-19 antiviral, saying the results in healthy volunteers cleared the way for two large Phase III trials of the drug that have begun enrolling patients.

Sobi North America, a unit of Swedish Orphan Biovitrum AB , said on Thursday the U.S. Food and Drug Administration authorized its arthritis drug for treatment of high-risk hospitalized COVID-19 patients.

Gilead Sciences Inc. on Thursday posted a higher-than-expected third-quarter profit on the back of strong demand for its HIV and cancer drugs, which helped offset lower sales of its COVID-19 antiviral drug and acquisition expenses.

It might seem like luck for a company to trip over a multi-billion dollar COVID treatment already lurking in its pipeline – but perhaps not so much when that company, Gilead, has been at the leading edge of antiviral R&D for decades.

The top performers among drugs launched in 2020 were each the first of their kind.

Gilead’s total revenue for Q2 increased 1% to $6.3 billion compared to Q2 in 2021. Overall, the company exceeded both its own expectations and the predictions of market analysts for the second quarter.