Gilead Sciences Sees Recovery For Business Starting In 2Q
February 04 2021 - 4:52PM
Dow Jones News
By Micah Maidenberg
Gilead Sciences Inc. said Thursday that it expects a gradual
recovery in the underlying market for its portfolio to start in the
second quarter. Pharmaceutical companies and other firms tied to
health have faced challenges as patients put off visits to doctors
during the pandemic.
"Gilead expects that its HIV treatment business will continue to
remain largely unaffected and that patients with [hepatitis C
virus] will begin to initiate treatment by the second quarter
2021," the company said.
Shares of Gilead gained 2.25% to $67.31 in after-hours
trading.
The Foster City, Calif.-based company also said it expects sales
of Truvada and Atripla to continue to decline in the first quarter
and beyond due to competition from generic drugs.
But it flagged Biktarvy, Trodelvy and other therapies as "key
growth drivers in 2021 absorbing the full year impact of Truvada
and Atripla loss of exclusivity in the United States."
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
February 04, 2021 16:37 ET (21:37 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Gilead Sciences (NASDAQ:GILD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Gilead Sciences (NASDAQ:GILD)
Historical Stock Chart
From Apr 2023 to Apr 2024