Gilead Sciences Announces First Quarter 2012 Financial Results ($GILD)

Gilead Sciences Announces First Quarter 2012 Financial Results ($GILD)

 

Gilead Sciences, Inc. (Nasdaq: GILD) is a research-based biopharmaceutical company that discovers, develops and commercializes innovative medicines in areas of unmet medical need. With each new discovery and experimental drug candidate,  they seek to improve the care of patients suffering from life-threatening diseases around the world. Gilead's therapeutic areas of focus include HIV/AIDS, hepatitis, serious respiratory, cardiovascular, and metabolic conditions, cancer and inflammation. Their portfolio of 14 marketed products includes a number of category firsts, including the only complete treatment regimens for HIV infection available in a once-daily single pill – Atripla® (efavirenz 600 mg/emtricitabine 200 mg/tenofovir disoproxil fumarate 300 mg), approved in 2006, and Complera® (emtricitabine/rilpivirine/tenofovir disoproxil fumarate), approved in 2011.
Gilead Sciences has announced their first quarter financial results for 2012.  Total revenues for the first quarter of 2012 increased 19 percent to $2.28 billion,  with a net income of $442.0 million.  The increased revenue is attributed to product sales driven by Gilead's antiviral franchise, including sales of Atripla(R), Truvada(R), and the launch of Complera(R)/Eviplera(R) in 2011.
Market watchers have commented on this announcement and the success of The Company's antiviral sales.
Brean Murray Carret & Co. commented,
"Gilead’s HIV franchise had a strong quarter, with newly launched Complera
contributing to the strength of core products Atripla and Truvada. However, investor focus remains on the Hepatitis C opportunity and the development plans for GS-7977.
We continue to believe Gilead represents a compelling investment opportunity and
see the strong quarter as a reaffirmation of the value of the company’s current suite of commercial products. We believe further upside will be derived from the approval and commercialization of GS-7977 for Hepatitis C next year.  Gilead’s HIV franchise had a strong quarter, with newly launched Compleracontributing to the strength of core products Atripla and Truvada. However, investorfocus remains on the Hepatitis C opportunity and the development plans for GS-7977.We continue to believe Gilead represents a compelling investment opportunity andsee the strong quarter as a reaffirmation of the value of the company’s current suite ofcommercial products. We believe further upside will be derived from the approval andcommercialization of GS-7977 for Hepatitis C next year."