Another area to watch is the company’s updates on its
pipeline. Gilead is working on expanding the use of Descovy and Biktarvy in the
treatment of HIV. The company also intends to file a new drug application for
the approval of filgotinib in the treatment of rheumatoid arthritis. Gilead has
entered into research partnerships with various companies for several products
and updates on these alliances are also worth watching.
In the first quarter of 2019, Gilead topped market estimates. Revenues grew nearly 4% year-over-year to $5.3 billion while adjusted EPS rose 19% to $1.76. Sales in HIV Products grew 14% while sales in HCV Products dropped 24%. Sales of Other Products also fell 7%.
For fiscal year 2019,
the company estimates its product sales to come in the range of $21.3 billion
to $21.8 billion and adjusted product gross margin to come in the range of 85%
to 87%.
Shares of Gilead have gained 9% so far this year and more than 3% over the past three months. The stock was up 0.91% during morning trade on Monday.