Gilead Revenues up 16% in the Quarter

Gilead

1Q Revenues: $6.4 billion (+16%)

1Q Earnings: $1.7 billion (+11%)

Comments: Growth in the quarter was primarily due to Veklury (remdesivir) sales, Cell Therapy growth with Yescarta and the U.S. launch of Tecartus in 3Q20, the first full quarter recognition of Trodelvy sales, and Hepatitis B virus (HBV) growth with Vemlidy, offset by loss of exclusivity of Truvada and tenofovir disoproxil fumarate 300 mg (TDF) and Atripla in the U.S. and COVID-19 pandemic-related impacts in both HIV and HCV. Veklury sales were $1.5 billion for the first quarter. HIV product sales decreased 12% to $3.7 billion. Biktarvy sales increased 8%. Descovy sales decreased 22% and Truvada and Atripla sales decreased 67%. HCV product sales decreased 30% to $510 million. HBV and hepatitis delta virus (HDV) product sales increased 18% to $220 million for the first quarter 2021. Vemlidy sales increased 33%. Hepcludex contributed $6 million in sales subsequent to Gilead’s acquisition of MYR GmbH. Cell Therapy product sales increased 36% to $191 million. Yescarta sales increased to $160 million and Tecartus sales were $31 million.