Gilead's 3rd-qtr 2007 revenue jumps 41%

The USA's Gilead Sciences' total revenues for the third quarter of 2007 were $1.06 billion, up 41% on the comparable period last year, as net income for the period was $398.3 million, or $0.42 per diluted share. However, excluding an after-tax stock compensation expense, non-generally-accepted accounting principles net income was $430.1 million, or $0.45 per share, versus $329.0 million, or $0.34 per share, the firm noted. On the day of the news, October 19, the company's stock price fell 3% to $42.20.

During the period, Gilead's HIV product sales reached $805.8 million, up 45%, driven primarily by sales volume growth in Truvada (emtricitabine and tenofovir disoproxil), sales of which rose 32% to $409.1 million, and Atripla (efavirenz 600mg; emtricitabine 200mg; tenofovir disoproxil 300mg), which earned $241.1 million, an increase of 14%. Income from Viread (tenofovir disoproxil fumarate) rose 13% to $149.1 million, while Emtriva (emtricitabine) sales increased 30% to $6.5 million. Hepatitis B drug Hepsera (adefovir dipivoxil) earned $79.3 million, up 44%.