Gilead beats 4th-qtr 2014 expectations, as hepatitis C drug sales soar

4 February 2015

US biotech firm Gilead Sciences (Nasdaq: GILD) posted fourth-quarter and full-year financial results after markets closed yesterday, beating analysts’ consensus forecasts, as sales of the firm’s new hepatitis C drug Sovaldi (sofosbuvir) continued unprecedented first-year growth.

Shares of Gilead, now the world’s largest biotech company, rose $0.99 to $107.18 in regular trading on Tuesday, and they are up 14% in 2015. However, in after-hours trading, the stock declined 4.5% to $102.35.

Revenue for the fourth quarter was $7.31 billion against last year's $3.12 billion, largely due to sales of mega-blockbuster hep C drug, Sovaldi (sofosbuvir), exceeding analysts’ consensus forecast of around $6.72 billion.

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