Max Nisen, Columnist

Gilead Still Doesn't Get a Deal Pass

One surprising quarter doesn't change its troubling long-term outlook.

July 26, 2017 at 9:50 PM UTC

Max Nisen is a healthcare analyst at Bloomberg Intelligence. He previously wrote for Bloomberg Opinion, Quartz and Business Insider.

The Gilead Sciences Inc. signage is seen at the Gilead Sciences, Inc. laboratory in Foster City, California, U.S., on Wednesday, August 10, 2011.
Photographer: David Paul Morris

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Gilead Sciences Inc. still has no excuse.

The drugmaker announced second-quarter earnings Wednesday afternoon that beat analyst expectations, largely on the back of its declining Hepatitis C (HCV) drugs. Sales of that franchise were down 17 percent from a year earlier, but rose 13 percent sequentially, after more patients were diagnosed with HCV and started taking Gilead's drugs than expected.