Gilead’s third quarter has been the first to show recovery signs from California-based biotech giant. The division selling products for hepatitis C treatment lost revenues in favor of competitors again (-14%).
By sharp contrast, sales from HIV and antivirals divisions increased from $3.3bn (Q3 2017) to $3.7bn, thanks to recently-launched products such as Biktarvy, which generated $386m in Q3. The revolutionary cancer treatment Yescarta, obtained by acquiring Kite, generated approximately $75m. Results were so positive that the management improved the current year guidances. 2018 revenues are now estimated to be $20.8bn to $21.3bn, vs the previously expected $20.0bn-$21.0bn.
Despite the positive news, investors seem still concerned over the steady sales decline by hepatitis C drugs, indeed shares have lost over 2% in after-market trading.