Gilead Sciences (GILD) reported a decrease in revenues of ~8.1% to $7.1 billion during 2Q17 as compared to $7.8 billion during 2Q16. This figure includes product revenues of $7.05 billion, and royalty, contract, and other revenues of $95 million during 2Q17. In addition, analysts estimate revenues will fall ~15.4% in 3Q17 to $6.3 billion.
The above graph shows the revenues of Gilead over the last few quarters.
The US markets reported product sales of $5.0 billion during 2Q17 as compared to product sales of $4.9 billion during 2Q16. For European markets, the product sales were $1.4 billion during 2Q17, a decline as compared to product sales of $1.6 billion during 2Q16.
Other international markets reported revenues of $655 million during 2Q17, a decline compared to $1.2 billion during 2Q16.
Antiviral products include drugs in the hepatitis C virus franchise and the HIV franchise. These products are the largest revenue contributors for Gilead, accounting for ~90% of total revenues. The antiviral products reported revenues of $6.4 billion during 2Q17 as compared to $7.1 billion during 2Q16. The decline was driven by lower sales of Harvoni, Sovaldi, Truvada, Atripla, Stribild, and Complera/Eviplera.
During 2Q17, the HCV franchise reported revenues of $2.9 billion during 2Q17, a decline as compared to revenues of $4.0 billion during 2Q16. The decline was driven by a fall in the sales of Harvoni and Sovaldi, substantially offset by strong sales of Epclusa.
During 2Q17, HIV and HBV products reported revenues of $3.6 billion during 2Q17 compared to revenues of $3.1 billion during 2Q16. The growth was driven by the strong performance of TAF (or tenofovir alafenamide) based products including Genvoya, Descovy, Odefsey, and Viread, substantially offset by lower sales of other products including Truvada, Atripla, Stribild, and Complera/Eviplera.
Other products include various products like Letairis, Ranexa, Zydelig, and AmBisome. These products reported revenues of $607 million during 2Q17 as compared to revenues of $525 million during 2Q16, driven by 31% growth in Ranexa sales.
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