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When Will Gilead Make Its M&A Move?

 
• By Joseph Haas

While HCV sales continue to slow due to a lengthy list of factors, Gilead is seeing a strong launch for revised HIV combo therapies incorporating TAF – but most analysts believe that major M&A is needed to offset stagnation.

Pills

With ongoing stagnation in its hepatitis C business, analysts are looking for Gilead Sciences Inc. to dip into business development activity as a way to return to growth, but the firm offered few clues during its July 25 second quarter earnings call, other than that it is looking outside virology.

HCV and HIV have made for a vigorous two-pillar antiviral business model at Gilead, but the still prosperous HCV franchise, anchored by sofosbuvir-containing products, is showing unmistakable signs of slowdown. The company reported global HCV product sales of $4.0bn for the quarter, down 20% year-over-year from $4.9bn in the second quarter of 2015, attributable primarily to a sales decline for combo stalwart Harvoni (sofosbuvir/ledipasvir), down more than 50% to $2.564bn on the quarter

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