Gilead Sciences reported a 2.6% decline in revenue for the fourth quarter. The results were hurt by lower product sales in Europe and in other locations. Chronic hepatitis C virus product sales plunged 50.8% due to lower average selling price and lower sales volume of Harvoni and Epclusa across all major markets as a result of increased competition and the lower patient starts. HIV product sales jumped 21% to $4.1 billion, primarily due to the launch of Biktarvy in 2018 and the continued uptake of Descovy, Genvoya and Odefsey. Other product sales, which include products from Gilead's chronic hepatitis B virus (HBV), cardiovascular, oncology and other categories inclusive of Vemlidy, Viread, Letairis, Ranexa, Zydelig, and AmBisome, decreased by 10%. Have a glance at the results in a graphical representation. https://news.alphastreet.com/gilead-sciences-q4-2018-earnings-gild-stock/
What a strange way to headline an article. At first glance, it’s difficult to tell that Biktarvy’s explosion on the market actually greatly helped Gilead.
