Gilead quarterly results beat estimates
Feb 11 (Reuters) - Gilead Sciences (GILD.O), opens new tab posted fourth-quarter results that exceeded Wall Street estimates on Tuesday as its HIV drug sales rose 16% and acquisition-related costs fell.
The California-based drugmaker's adjusted profit rose to $1.90 per share from $1.72 a year earlier, beating analysts' estimates of $1.70 per share, according to LSEG data.
Revenue for the quarter rose 6% to $7.57 billion, also exceeding Wall Street estimates of $7.14 billion.
Net earnings per share rose to $1.42 from $1.14 a year ago.
For 2025, the company said it expects adjusted earnings of $7.70 to $8.10 per share on product sales of $28.2 billion to $28.6 billion. The low end of the company earnings range is above analysts' projections of $7.58 per share. They are estimating 2025 revenue of $28.42 billion.
"From this foundation of commercial strength, we are planning for the potential launch of lenacapavir for HIV PreP (pre-exposure prophylaxis) in summer 2025," Gilead CEO Daniel O'Day said in a statement.
The U.S. Food and Drug Administration is expected to decide by mid-year whether to approve lenacapavir as a twice-yearly injection to prevent HIV infection.
Gilead said its fourth-quarter HIV product sales rose to $5.45 billion from $4.69 billion a year earlier, due to higher demand, higher prices and favorable inventory dynamics. Biktarvy sales rose 21% to $3.8 billion, beating the average analyst estimate of $3.48 billion.
Sales of COVID-19 drug Veklury fell 53% to $337 million, which was short of Wall Street expectations of $397 million.
Oncology sales rose 10% to $843 million and sales of liver disease drugs rose 4% to $719 million.
Keep up with the latest medical breakthroughs and healthcare trends with the Reuters Health Rounds newsletter. Sign up here.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South Wales Guardian
43 minutes ago
- South Wales Guardian
Sweet Williams in Pontardawe wins gift shop of the year
Mrs Emma Doyle runs Sweet Williams on 6-8 Herbert Street in Pontardawe. The shop has 96 reviews on Facebook and a recommendation ratio of 96%, specializing in beautiful handmade gifts. Sweet Williams is located on 6-8 Herbert Street. (Image: Emma Doyle) Mrs Doyle said: 'I am very much proud of our achievement. We have worked so hard. You only need to look at Trustpilot to see how many positive reviews we have. Now, to have recognition for that is fantastic. 'It's quite a big award. It started out as a hobby. We started in 2011 at home and then we got our first shop in 2016. So, we have had a presence on the high street for a number of years. We first had a studio and then we eventually got a shop. Mrs Doyle started her business in 2011. (Image: Emma Doyle) 'The shop became available at the start of COVID, and we have been here ever since. My background before I started this business was in law. I started the business while I was on maternity leave. 'I'm always trying to put Pontardawe on the map. We are a huge champion of shopping local and independent and feel privileged to have a space to do this in Pontardawe. 'This is important because in the last couple of years it's been tough for businesses on the high street. So, to have support from the local community is fantastic.' The store specialises in handmade gifts. (Image: Emma Doyle) Mrs Doyle was informed via email that she was nominated for the award, before a panel of judges looked at her business, including her reviews. She will attend Ashton Gate Football Stadium in Bristol next month to attend an award ceremony and receive the accolade in person. Mrs Doyle continued: 'We have supplied products for the Royal Family and received an award from Theo Paphitis from Dragons Den. But this award has been the icing on the cake. 'We just want to keep building our customer base. We still have so many people coming in who didn't realise we were here. 'We are a family business. My husband chips in, as do my children. My mum and dad also get involved. We even offer sowing workshops." The business creates its own brand of textile products. (Image: Emma Doyle) Sweet Williams is a gift shop consisting of several retail spaces set over 4 floors. The business has recently reopened its basement following a yearlong renovation project, which is now home to Welsh/locally sourced foodie treats and a pre-loved bookshop. On the fourth floor, Sweet Williams creates its own brand of textile products, which are then supplied to over 200 stockists, helping other independent retailers to grow their presence on the local high street.
Daily Mail
an hour ago
- Daily Mail
Brands are claiming to be 'Made in America' and then they're getting sued
Brands are desperate to emphasize that they are 'Made in America' as President Trump continues to wield tariffs to push for a homegrown manufacturing renaissance. However, some companies have been accused of misleading customers by claiming their product was made in the US, when in fact it was in part made overseas. As a result, dozens of brands are now facing legal action over their advertising and packaging. The litigation is being driven by a California law firm Kazerouni Law Group which has already launched 10 of the 13 class action suits filed so far this year. By comparison there were only seven similar cases brought in the whole of last year, according to consumer advocacy group Truth in Advertising. 'One of the platforms the administration was running on was how important American-made things are,' Abbas Kazerounian, founding partner of Kazerouni Law Group, told the Wall Street Journal. 'So the American public has out and out said, "This is something that's important to us."' Kazerouni's cases allege that popular brands have used that sentiment to sell more products and justify higher prices, without their origins being entirely in the US. High profile consumer goods makers have been drawn in to the fray, including Goya Foods, French's Mustard, PepsiCo's Pure Leaf Teas and Dude Wipes. Only Dude Wipes has spoken publicly of their case, telling the Journal that they are confident it will be dismissed. The brand now puts 'Assembled in the U.S.A.,' on their men's toiletry products, to reflect the fact that some components come from overseas. Last year Kazerounian sued the hair care brand Olaplex, for claiming to be made in the US. The case resulted in a settlement, and while Olaplex does not admit wrongdoing it agreed to pay Kazerouni's $1.05 million fees and give the plaintiff $5,000. Another high profile case, brought by another firm, saw a jury award $2.36 million in April to class action plaintiffs that sued the maker of Bigelow Teas. The case argued that the tea company had inaccurately put 'Manufactured in the USA' on its packaging. The odds are certainly in Kazerounian's favor. Of the 80 'Made in America' class action suits brought since 2011 only five have been dismissed, according to data from Truth in Advertising. Abbas Kazerounian, founding partner of Kazerouni Law Group is leading the legal charge Pure Leaf teas made by PepsiCo have also found themselves in the firing line No juries have ever come out in favor of defending companies either, the group said. Companies are so concerned about the threat of legal action that they are preemptively amending their advertising and packaging materials. The maker of Jeep and Ram vehicles changed a new ad campaign to avoid saying their vehicles were built in America because they contain imported parts. 'I think it's important to educate the public, and the businesses for that matter, who are more sophisticated than consumers generally, on why these cases are important,' Kazerounian concluded.
Powys County Times
an hour ago
- Powys County Times
Presteigne fish and chip shop the highest-rated in Powys
The highest-rated fish and chip shop in Powys has been revealed. Victoria Fish Bar, located in Presteigne, boasts a near-flawless 4.8-star rating on Google Reviews (from 76 reviews) - the highest of any chippy in the county. Customers have raved about the fish and chip shops "perfect" food and have described it as "the best anywhere". The highest-rated fish and chip shop in Powys - Victoria Fish Bar Victoria Fish Bar (52 High Street, Presteigne, LD8 2BE) serves a "varied range" of food, according to its Facebook page, alongside the traditional fish and chips. This includes doner kebabs, burgers, pies and sausages. Visitors have raved about the Presteigne-based fish and chip shop, with one person on Google Reviews saying: "Best fish and chip shop in mid Wales! Staff absolute brilliant, and the food was perfect." Another added: "This is one of the best fish and chip shops i have been to. Amazing portions nothing to much trouble,and al my food was cooked from fresh. "Everyone try fish and chip shop you won't be disappointed at all." The best fish and chip shops in the UK While a third customer commented: "This is the best fish and chips I've had anywhere, and I have tried many! Portion sizes are big. Prices very good. "You can also get fish bites (yummy!), mini fish, burgers, pies, sausages etc etc, plus a range of daily specials. "The place looks plain but it's clean and functional. Very friendly, run by locals, supported by locals, always fresh. "My only bug bear - it's cash only. But there is a cash point just a couple of minutes away, get some whilst they prepare your meal…" RECOMMENDED READING: Victoria Fish Bar also boasts a 3.9 (out of 5) rating on Tripadvisor from 48 reviews. A regular visitor, commenting on Tripadvisor, said: "We go here quiet a bit the fish and chips are really nice and staff friendly would reccomend. "Lots of choice and new things on the menu too. Very tasty."
