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Gilead’s Profit, Hepatitis C Drugs Sales Miss Estimates

  • Sovaldi, Harvoni sales disappoint after competitors appear
  • Company is `aggressively' seeking investment opportunities
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Gilead Sciences Inc.’s profit missed analysts’ estimates in the first quarter as sales of its blockbuster hepatitis C treatments were lower than expected.

The slowing of its key franchise is raising pressure on the biggest U.S. biotech to bolster its pipeline. Gilead is looking “aggressively” for ways to invest its cash, including potential acquisitions, Chief Executive Officer John Milligan said on a conference call Thursday with analysts.