Gilead Profit Tops Estimates as Hepatitis C Drug Sales Surge
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Gilead Sciences Inc., maker of the hepatitis C drugs Sovaldi and Harvoni, posted second-quarter profit that topped analysts’ estimates as revenue surged. Gilead raised its sales forecast for the year.
Earnings excluding one-time items rose to $3.15 a share, above analysts’ predictions of $2.71, according to an average of estimates compiled by Bloomberg. Revenue jumped 26 percent to $8.24 billion in the period ended June 30, the Foster City, California-based company said Tuesday in a statement. Analysts had predicted $7.58 billion.