Despite revenue rise, Gilead loss increases

For the first quarter of 2001, Gilead Sciences saw total revenuesincrease 12% to $57.8 million, with those from royalties rising 3.1% to $6.2 million and from contract sales leaping to $6.4 million, compared with less than $1 million for the previous year's first quarter. Product sales advanced 24% to $45.1 million. The company incurred an operating loss of $25.8 million (compared with $4.5 million) and a net loss of $21.7 million ($16.9 million in first-quarter 2000).

Net revenues from product sales were primarily derived from AmBisome (amphotericin B) liposome for injection, which accounted for 93% of product sales for the first quarter, totalling some $41.9 million, and a rise of 21%. Additionally, Gilead recorded turnover of $2.1 million for Vistide (cidofovir injection) and $1 million from DaunoXome (daunorubicin citrate) liposome for injection.

First-quarter royalty and contract revenues included those from R&D projects, AmBisome sales in the USA by Gilead's co-promotion partner Fujisawa Healthcare, royalties on sales of Tamiflu (oseltamivir) from Roche and royalties on Vistide outside the USA from partner Pharmacia, the company notes.