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News of Gilead’s Sovaldi success was all over the Internet…

From the San Francisco Business Times:
“Payers may hate paying for it, but Gilead Sciences Inc.’s $1,000-a-pill hepatitis C drug registered the fastest drug launch ever in terms of dollars.”

New York Times:
“Record sales of a new hepatitis C drug pushed the first-quarter earnings of Gilead Sciences far beyond expectations, the company reported on Tuesday, but could also heighten concerns about the high cost of the drug, known as Sovaldi, and the ability of the health care system to pay for it.”

“Gilead Sciences Inc. (GILD:US) overwhelmed sales estimates for its new blockbuster hepatitis C pill in what analysts called the biggest drug start ever. Sovaldi, the company’s $1,000-a-pill medicine to treat hepatitis C, had sales of $2.27 billion in the first quarter, the company said in a statement. That beat an average of analyst estimates by more than $1 billion. The Foster City, California-based company also reported profit excluding certain items of $1.48 a share, beating by 56 cents the analysts’ average estimate.”

San Francisco Chronicle:
“Still flush from the unprecedented debut of its blockbuster hepatitis C drug, Gilead Sciences watched its stock continue to rise Wednesday, even as a top payer remained opposed to Sovaldi’s price.”  More from SFGate

USA Today:
“In the first quarter, Gilead posted blow-out numbers, reporting net income of $2.23 billion, or $1.33 a share. That was up from $722.2 million a year ago. Excluding costs for stock-based compensation and other items, the company reported earnings of $1.48 a share, easily topping estimates of 88 cents a share, according to Thomson Reuters.”

“The launch of Sovaldi, the $1,000-a-day pill for hepatitis C, is shaping up as the most successful ever. The Food and Drug Administration approved the pill in December. And then Gilead Sciences was off to the races. The company said it sold $2.27 billion worth of Sovaldi in the quarter that ended March 31. $2.27 billion! The boffo number beat Wall Street’s estimate for the quarter by more than $1 billion.”

April 23rd, 2014|