Biktarvy and Veklury partially offset Gilead's Truvada losses

29 April 2022

Gilead Sciences (Nasdaq: GILD) increased its quarterly revenue by 3% compared to the first quarter of 2021, the company announced in presenting its latest financial results.

The revenue figure for first-quarter 2022 came in at $6.6 billion. Sales of HIV drug Biktarvy (bictegravir /emtricitabine /tenofovir alafenamide) and COVID-19 antiviral Veklury (remdesivir) partially offset the impact of the loss of exclusivity for Truvada (emtricitabine/tenofovir), another HIV product, in the USA and unfavorable pricing dynamics for hepatitis C products.

Gilead said adjusted earnings rose 4% from a year ago to $2.12 per share, topping the average analyst estimate of $1.81, as compiled by Refinitiv.

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