Gilead
1Q Revenues: $5.3 billion (+4%)
1Q Earnings: $2.0 billion (+28%)
Comments: HIV product sales were $3.6 billion, up 13% primarily driven by higher sales as a result of the continued uptake of Biktarvy. Chronic hepatitis C virus (HCV) product sales were $790 million down 21% primarily due to lower patient starts and competitive dynamics, including a decline in price in U.S. Medicare. Yescarta, which was approved in the U.S. in October 2017 and Europe in August 2018, generated $96 million in sales, up 140%. Other product sales, which include products from Gilead’s chronic hepatitis B virus (HBV), cardiovascular, oncology and other categories, were $696 million, down 7% primarily due to the decline in Ranexa sales after generic entry in the first quarter of 2019.