Gilead Sciences Swings to 2Q Profit as Revenue Soars 21%
July 29 2021 - 4:38PM
Dow Jones News
By Kimberly Chin
Gilead Sciences Inc. swung to a profit in the second quarter as
revenue increased 21% driven by higher demand for therapies such as
remdesivir, Biktarvy and its hepatitis C virus products as well as
stronger demand for Trodelvy and Tecartus in the U.S.
The biopharmaceutical company's net profit was $1.52 billion,
compared with a loss of $3.34 billion a year earlier. Earnings were
$1.21 a share for the quarter, compared with a loss of $2.66 a
shaer a year ago. Excluding special items, Gilead posted an
adjusted profit of $1.87 a share. Analysts polled by FactSet were
expecting adjusted earnings of $1.74 a share.
Total revenue rose to $6.22 billion from $5.14 billion in the
year-earlier period. Analysts estimated $6.08 billion in revenue.
Sales of its flagship HIV therapy Biktarvy increased by 24% from
the prior year.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
July 29, 2021 16:29 ET (20:29 GMT)
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