Home Business Gilead quarterly income rises 26% on remdesivir gross sales By Reuters

Gilead quarterly income rises 26% on remdesivir gross sales By Reuters


© Reuters. Gilead Sciences Inc pharmaceutical firm is seen through the outbreak of the coronavirus illness (COVID-19), in California

(Reuters) – Gilead Sciences Inc (NASDAQ:) posted a 26% rise in quarterly income that topped Wall Road estimates on Thursday, helped by gross sales of its antiviral drug, remdesivir, which is allowed to deal with COVID-19 sufferers the world over.

Remdesivir introduced in $1.9 billion within the fourth quarter ended Dec. 31, above analysts’ estimates of $1.34 billion, in keeping with Refinitiv IBES information.

Shares of Gilead have been up 2.5% in prolonged buying and selling.

The corporate forecast fiscal 2021 outcomes largely forward of analyst expectations and raised its dividend by 4.4%.

Fourth-quarter income totaled $7.42 billion, beating the typical analyst estimate of $7.33 billion.

Gilead projected fiscal 2021 product gross sales of $23.7 billion to $25.1 billion, forward of the Wall Road consensus of $24.27 billion in income, in keeping with IBES information from Refinitiv.

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