Gilead Offers Split Guidance For HCV; Expects Further Decline In 2017
A 22% decline in hepatitis C sales year-over-year was offset somewhat by a 17% uptick for the HIV franchise, but the virology powerhouse is guiding for continued HCV falloff in 2017.
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Sales were down in the second quarter to $5.07bn, primarily due to coronavirus-related impacts, but Gilead’s COVID-19 antiviral therapy remdesivir will boost revenues in the second half.
HIV remains the main growth franchise for Gilead, despite an anticipated first quarter revenue downturn due to inventory and payer mix. Biktarvy’s launch and growth in PrEP business provide multiple drivers for the franchise.
By marketing its own authorized generic versions of blockbuster HCV combos Epclusa and Harvoni, Gilead may eat into AbbVie’s large market share edge in US government-insured patients.