Gilead Sciences experiences double-digit Q2 growth
21 July 2010 00:00 in Pharmaceutical Company Financials
Gilead Sciences has experienced a strong second quarter of the current fiscal year, reporting a 17 per cent year-on-year increase in revenues.
The company, which is responsible for brands such as Atripla and Letairis, accrued a revenue total of $1.9 billion (1.3 billion pounds) for the three-month period, with income also increasing.
Improved product sales played a key role in this enhanced performance, with drugs including the HIV therapies Atripla, Truvada and Viread all seeing growth, as did the pulmonary arterial hypertension drug Letairis.
Ranexa, the chronic angina treatment acquired by Gilead from CV Therapeutics, saw the most pronounced improvement, with sales growing by 68 per cent year-on-year.
In addition, the firm accomplished several key business developments in the last quarter, such as the completion of a stock repurchase programme and the purchase of CGI Pharmaceuticals.
The latter deal in particular has been described by Gilead as a move which will help it to expand its future drug discovery capabilities.
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