Gilead 3rd-qtr beats expectations, boosted by Veklury and Biktarvy

29 October 2021

US biotech major Gilead Sciences (Nasdaq: GILD) late yesterday announced third quarter 2021 financial results that well beat analysts’ forecasts, but its shares dipped 2.3% to $65.82 in after-hours trading.

Total third quarter 2021 revenue of $7.4 billion increased 13% compared to the same period in 2020, due to increased demand for Veklury (remdesivir). well above stock analysts' call for $6.29 billion.

Diluted earnings per share (EPS) increased to $2.05, compared to $0.29 for the same period in 2020. The increase was primarily driven by lower acquired in-process research and development (IPR&D) expenses, higher net sales and lower unrealized losses from our equity securities.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK