As with many biopharma firms, Gilead Sciences (Nasdaq: GILD) reported a drop in first-quarter revenue this year due to a decline in sales of a COVID-19 treatment.
The US biotech company’s overall quarterly sales figure fell by 3.6% to $6.4 billion, although this was ahead of analysts’ expectations of $6.31 billion. Product sales excluding the COVID-19 drug Veklury (remdesivir) rose by 15% to $5.7 billion.
Diluted earnings per share came in at $1.37, worse than the $1.53 expected by analysts and 35% down on the first quarter of 2022.
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