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Título: - Gilead HIV drugs drive profit after year-ago loss---
Publicado por: czfocs86 en Junio 01, 2013, 05:46:19 am
Gilead HIV drugs drive profit after year-ago loss
The fast-growing company, which named former Avaya Inc and Merck & Co executive Caroline Dorsa chief financial officer,Cheap San Diego Chargers Jerseys (http://cauthenticjerseys.org/san-diego-chargers-jerseys/), now expects 2007 product revenue to land at the high end of its existing forecast range of $3.6 billion to $3.7 billion.Foster City, California-based Gilead reported a net profit of $398.3 million, or 42 cents per share, compared with a net loss of $52.2 million,Cheap Tennessee Titans Jerseys (http://cauthenticjerseys.org/tennessee-titans-jerseys/), or 6 cents per share,Nike Chicago Bears Jerseys (http://jojerseys.net/chicago-bears-jerseys/), a year earlier,Wholesale Atlanta Falcons Jerseys (http://cauthenticjerseys.org/atlanta-falcons-jerseys/), when the company took a large charge for its purchase of Corus Pharma.Analysts, on average, had seen Gilead posting a profit of 39 cents per share, according to Reuters Estimates.Total revenue grew 41 percent to $1.06 billion, helped by product revenue that increased 44 percent to $961.9 million during the quarter.Sales of HIV drugs rose 45 percent to $805.8 million,Nike Washington Redskins Jerseys (http://jojerseys.net/washington-redskins-jerseys/), which included a 32 percent jump in sales of the two-drug combination medicine Truvada to $409.1 million.Sales of the newer Atripla, which combines Truvada with Bristol-Myers Squibb Co's Sustiva into a single pill, more than tripled to $241.1 million from $68.4 million in the year-ago period.On Thursday, the European Medicines Agency said it recommended approval for Atripla. Company executives said on a conference call that final clearance could come before the end of the year.That news comes a day after Canadian drug regulators approved Atripla for the treatment of HIV infection in adults.Royalty, contract and other revenue rose 23 percent to $96.9 million. Gilead gets much of its royalty revenue from Roche Holding's sales of Tamiflu flu treatment.As Roche reported earlier this week, third-quarter Tamiflu sales fell 60 percent following completion of orders for influenza pandemic stockpiles.Gilead shares closed up 1.9 percent at $43.51 on the Nasdaq prior to the company's financial report, but were just slightly lower at $43.35,Cheap Minnesota Vikings Jerseys (http://jojerseys.net/minnesota-vikings-jerseys/), in extended trading.(Reporting by Lisa Baertlein and Bill Berkrot)
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