Gilead
4Q Revenues: $5.8 billion (-2%)
4Q Earnings: $3 million (loss of $3.9 billion 4Q17)
FY Revenues: $22.1 billion (-15%)
FY Earnings: $5.5 billion (+18%)
Comments: Total product sales in the quarter were $5.8 billion, flat compared to 4Q17. Sales were $4.5 billion in the U.S., $813 million in Europe and $398 million in other locations. HIV product sales were $4.1 billion in the quarter, up 21%. Growth was primarily due to the launch of Biktarvy in 2018 and the continued uptake of Descovy, Genvoya and Odefsey. Chronic hepatitis C virus (HCV) product sales, which consist of Epclusa, Harvoni, Vosevi and Sovaldi, were $738 million in the quarter compared to $1.5 billion in 4Q17. Yescarta, which was launched in the U.S. in October 2017, generated $81 million in sales in the quarter. Other product sales, which include products from Gilead’s chronic hepatitis B virus (HBV), cardiovascular, oncology and other categories inclusive of Vemlidy, Viread, Letairis, Ranexa, Zydelig and AmBisome, were $797 million in the quarter, down 10%.