Gilead's Second-Quarter Profits Rise 76% Because of 61% Increase in Antiretroviral Drug Sales
July 21, 2005
Foster City, Calif.-based Gilead Sciences on Tuesday announced its second-quarter profits for 2005 rose 76% to $196 million over the same time period last year, primarily because of a 61% increase in sales of its antiretroviral drugs, Reuters reports. Gilead recorded $123.1 million in second-quarter sales for its combination antiretroviral drug Truvada, which combines its antiretrovirals Viread and Emtriva. About half of patients who previously took either Viread or Emtriva have switched to Truvada, according to Gilead (Beasley, Reuters, 7/19). Second-quarter sales of Truvada -- which was approved by FDA in August 2004 -- increased 35% over the first quarter of 2005 (Associated Press, 7/19). Sales of Viread in the second quarter of 2005 increased 6% to $209.1 million compared with $197.2 million in the second quarter of 2004, but Emtriva sales decreased 26% to $12.1 million (Gilead release, 7/19). Gilead earlier this week announced it will pay Emory University $341 million to acquire 65% of the intellectual property rights to Emtriva and Royalty Pharma will pay Emory $184 million for the other 35% of the rights. Gilead no longer will owe Emory royalties, but it will be obligated to make payments to Royalty Pharma on future sales of the drug (Kaiser Daily HIV/AIDS Report, 7/19). Gilead and Bristol-Myers Squibb have developed a three-drug, fixed-dose combination antiretroviral, and the companies hope to file for FDA approval by the end of this year, according to Gilead CEO John Martin (Reuters, 7/19).
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This article was provided by Henry J. Kaiser Family Foundation. It is a part of the publication Kaiser Daily HIV/AIDS Report. Visit the Kaiser Family Foundation's website to find out more about their activities, publications and services.