Gilead's sales up 40%; Viread patent challenge
US drugmaker Gilead Sciences says that its revenues in the fourth quarter and full-year ended December 31, 2007, were up 22% and 40% to $1.09 billion and $4.23 billion, respectively. Additionally, the firm swung into a $1.62 billion profit from the $1.67 billion loss it saw in 2006, following its purchase of Corus and Myogen (Marketletters passim).
Subsequent to Gilead's results came the news that the US Patent and Trademark Office has tentatively nullified four of the firm's Viread (tenofovir) patents. According to the insideBayArea.com web site, the move follows a re-examination request by consumer advocacy group the Public Patent Foundation, on the grounds that technology used to make the drug was already in the public domain.
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