Sovaldi Carries Company to Blowout Quarter With Net Income Up 246%, Zero Debt and Strong R&D PipelineGilead Sciences, Inc. (NASDAQ: GILD) is a global biopharmaceutical company, founded in 1987, that develops and distributes medicines to treat life-threatening diseases. The company has a portfolio of approved 21 drugs that treat HIV/AIDS, liver disease, tumors, cardiovascular disease, influenza, cystic fibrosis, fungal infections and macular degeneration. To its credit, the company has developed 13 of these drugs over the past 9 years.
Shares Up 62% Year-Over-Year, Up 3% since Harvoni ApprovalOn October 10, 2014, the U.S. Food & Drug Administration (FDA) approved Gilead's Harvoni drug – a once-daily ingestible pill for the treatment of Hepatitis C that replaces the dreaded and unreliable injection/pill combination of Interferon and Ribavarin that required intensive physician oversight of patient-specific dosage and the monitoring of side-effects, with a less than 50% cure rate. Harvoni builds on Gilead's Sofosbuvir (Sovaldi) and Ledipasvir drugs. Harvoni will be priced at $95,000 for a 12-week treatment course, more expensive than the $84,000 price for a 12-week supply of Sovaldi (for the treatment of Genotype-1 Hepatitis C) because Harvoni can be used standalone, without additional medications and has been shown to successfully treat patients within the 12-week treatment course at lower total cost. Following Harvoni approval, Gilead shares rose about 3% to close at $106.45 on 11/7/2014, up 62% year-over-year from $65.63 (close on 11/7/2013).
At $106.45, Gilead shares trade at