Sovaldi Carries Company to Blowout Quarter With Net Income Up 246%, Zero Debt and Strong R&D Pipeline

Gilead 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 Approval

On 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

This document is not complete.
The full version is available for paid up members or in SeekingAlpha portal here.
Outdated document.
The document was written more than 6 months ago. Information may be outdated.