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Gilead's CEO Gives Glimpse Of Strategic Opportunities As HCV Sales Slide Continues

03 May 2017

Gilead CEO John Milligan, pressured by an analyst, gave a brief rundown of the company's strategic priorities as investors wait for the company to spend its $34bn in cash on revenue-increasing opportunities to offset declining hepatitis C drug sales.

Expectations were low in regard to sales of Gilead Sciences Inc.'s hepatitis C drugs and the company's dealmaking activity going into its first quarter earnings conference call on May 2 – and from that perspective, Gilead did not disappoint, though CEO John Milligan did pull back the curtain a little bit in regard to the company's strategy under pressure from an analyst.

Gilead reported $6.5bn in first quarter revenue, down 17% from $7.8bn in the same period of 2016; revenue from treatments for the hepatitis C virus (HCV) were down 40% at...

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