Gilead Sciences Sees Recovery For Business Starting In 2Q

By Micah Maidenberg

Gilead Sciences Inc. said Thursday that it expects a gradual recovery in the underlying market for its portfolio to start in the second quarter. Pharmaceutical companies and other firms tied to health have faced challenges as patients put off visits to doctors during the pandemic.

"Gilead expects that its HIV treatment business will continue to remain largely unaffected and that patients with [hepatitis C virus] will begin to initiate treatment by the second quarter 2021," the company said.

Shares of Gilead gained 2.25% to $67.31 in after-hours trading.

The Foster City, Calif.-based company also said it expects sales of Truvada and Atripla to continue to decline in the first quarter and beyond due to competition from generic drugs.

But it flagged Biktarvy, Trodelvy and other therapies as "key growth drivers in 2021 absorbing the full year impact of Truvada and Atripla loss of exclusivity in the United States."

Write to Micah Maidenberg at [e-mail]

(END) Dow Jones Newswires

February 04, 2021 16:37 ET (21:37 GMT)

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