Gilead’s Q1 revenues lifted by COVID-19 med Veklury as HIV drugs take a hit
Gilead has posted its results for the first quarter of 2021, noting an increase in revenues for the quarter, driven by its COVID-19 pill Veklury, while sales of its HIV drugs took a hit.
The total revenues for Q1 increased by 16% to a total of $6.4bn compared to the same period last year, with Gilead attributing much of that growth to Veklury (remdesivir), its antiviral medication for COVID-19.
However, total product sales excluding Veklury dropped by 11% to $4.9bn compared to Q1 2020, due to the loss of exclusivity of its HIV drugs Truvada, tenofovir disoproxil fumarate and Atripla in the US as well as COVID-19 related impacts.
Overall, HIV product sales decreased by 12% to $3.7bn for the first quarter, although sales of its newer HIV treatment Biktarvy increased by 8% year-on-year in Q1.
Sales of Gilead's hepatitis C virus (HCV) products and hepatitis delta virus (HDV) products increased by 18% to $220m, with a significant increase in sales of chronic hepatitis B virus (HBV) treatment Vemlidy compared to the same period last year.
Gilead was also bolstered by sales of its cell therapy products, which jumped by 36% to $191m in the first quarter, with Yescarta bringing in $160m and Tecartus bringing in $31m.
Read more: http://www.pmlive.com/pharma_news/gileads_q1_revenues_lifted_by_covid-19_med_veklury_as_hiv_drugs_take_a_hit_1368918
The total revenues for Q1 increased by 16% to a total of $6.4bn compared to the same period last year, with Gilead attributing much of that growth to Veklury (remdesivir), its antiviral medication for COVID-19.
However, total product sales excluding Veklury dropped by 11% to $4.9bn compared to Q1 2020, due to the loss of exclusivity of its HIV drugs Truvada, tenofovir disoproxil fumarate and Atripla in the US as well as COVID-19 related impacts.
Overall, HIV product sales decreased by 12% to $3.7bn for the first quarter, although sales of its newer HIV treatment Biktarvy increased by 8% year-on-year in Q1.
Sales of Gilead's hepatitis C virus (HCV) products and hepatitis delta virus (HDV) products increased by 18% to $220m, with a significant increase in sales of chronic hepatitis B virus (HBV) treatment Vemlidy compared to the same period last year.
Gilead was also bolstered by sales of its cell therapy products, which jumped by 36% to $191m in the first quarter, with Yescarta bringing in $160m and Tecartus bringing in $31m.
Read more: http://www.pmlive.com/pharma_news/gileads_q1_revenues_lifted_by_covid-19_med_veklury_as_hiv_drugs_take_a_hit_1368918
