Gilead shares suffer as results confirm fading hepatitis empire
The need for US biotech Gilead Sciences (Nasdaq: GILD) to replace revenue being lost as its flagship hepatitis drugs face increasing competition was made even clearer with the company’s presentation of its latest quarterly and annual financial results.
Gilead’s revenue for 2017’s fourth quarter, of $5.95 billion, beat forecasts of $5.7 billion but was 18.7% lower than in the same period of 2016.
The company’s fourth-quarter earnings, excluding one-off items, were $1.78 compared to the $2.70 of a year ago. The figure did marginally exceed Wall Street estimates.
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