Robust revenues at Gilead, while remdesivir effect is unclear
Gilead Sciences (Nasdaq: GILD) has reported first quarter 2020 revenues of $5.5 billion, beating analysts’ expectations of around $5.45 billion, an increase of 5% compared with the same period in 2019.
Net income for the first quarter 2020 was $1.6 billion, or $1.22 per share, a decrease of 21%.
The results were driven by a strong performance from the core HIV business, particularly Biktarvy (bictegravir/emtricitabine/tenofovir), with overall revenues of $4.1 billion for the quarter, an increase from $3.6 billion.
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