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Why Gilead Sciences’ Harvoni Lost Market Share in 4Q17

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Mar. 7 2018, Updated 9:02 a.m. ET

Gilead Sciences’ Harvoni  

Gilead Sciences’ (GILD) Harvoni is a combination of Ledipasvir 90mg (milligrams) and Sofosbuvir 400mg. Harvoni is approved to treat HCV (Hepatitis C virus) infections.

The above chart shows Harvoni’s revenues since 1Q16.

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Harvoni’s importance

During 4Q17, Harvoni contributed ~11.0% of Gilead Sciences’ total product sales. Harvoni is approved for use with or without Ribavirin to treat chronic HCV infections of Genotype -1, Genotype-4, Genotype-5, and Genotype-6.

Harvoni’s revenues  

Harvoni’s revenues declined to $644 million during 4Q17—a 60.7% decline compared to revenues of $1.6 billion during 4Q16. Harvoni’s sales declined due to the drug’s patent expiry across all of the major markets.

Harvoni’s US sales decreased to $425 million during 4Q17—compared to $976 million during 4Q16. For European markets, Harvoni reported revenues of $121 million during 4Q17—compared to $363 million during 4Q16. For international markets, Harvoni reported revenues of $98 million during 4Q17—compared to $301 million during 4Q16.

A few other HCV drugs include Viekira Pak from AbbVie’s (ABBV) portfolio, Olysio from Johnson & Johnson’s (JNJ) portfolio, Daklinza from Bristol-Myers Squibb’s (BMY) portfolio, and Pegasys from Genentech’s portfolio.

Other HCV drugs  

As we discussed earlier, Gilead Sciences’ HCV portfolio also includes Sovaldi, Epclusa, and Vosevi. Vosevi reported revenues of $170 million during 4Q17 due to US sales of $150 million and European sales of $17 million.

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