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Gilead Profit Rises on Sales of AIDS Pills, Flu Drug
January 27, 2010
[efoods]Gilead Sciences Inc. said fourth- quarter profit jumped 43 percent on demand for AIDS drugs and surging royalties from the anti-flu treatment Tamiflu.
Net income increased to $802 million, or 87 cents a share, from $560 million, or 59 cents, a year ago, the Foster City, California-based company said today in a statement. Earnings excluding certain items were 93 cents a share, beating the 85 cents average estimate of 23 analysts surveyed by Bloomberg.
Gilead, the world’s largest maker of AIDS treatments, said revenue rose 42 percent to $2.03 billion. Sales of antiviral drugs, led by the combination therapies for AIDS, Truvada and Atripla, rose 27 percent to $1.62 billion. The global swine flu pandemic boosted demand for Tamiflu, licensed to Swiss drugmaker Roche Holding AG, to $194 million from $16 million in the quarter a year ago.
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