Deals
Gilead Seeks Deals as U.S. Hepatitis C Sales May Flatten
- Drugmaker announces $12 billion added to share repurchase
- Hepatitis C drugs sell $4.89 billion in fourth quarter
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Gilead Sciences Inc. expects U.S. use of its blockbuster hepatitis C treatment to be flat or stable this year as the franchise faces new competition from other drugmakers. The biotechnology firm is on the lookout for acquisition opportunities to sustain growth, executives said.
Fourth-quarter earnings beat analysts’ estimates after the company’s hepatitis C pills, Sovaldi and Harvoni, sold $4.89 billion, Gilead said Tuesday in a statement. While the drugs have been among the fastest-selling medications of all time, they face competition from AbbVie Inc. and a therapy from Merck & Co. that was approved last week by the U.S. Food and Drug Administration.