Gilead Sciences Inc. still didn't have anything concrete to say about M&A strategy during its second quarter earnings call July 26, but it surprised market analysts anyway by increasing 2017 sales guidance for its hepatitis C virus (HCV) drugs just a few months after slashing expectations for its sofosbuvir-driven portfolio.
Overall, Gilead's industry-dominating HCV franchise posted sales of $2.87bn during the quarter, down 28% year-over-year, but up 11% from the first quarter. Chief Operating Officer Kevin Young noted that Gilead is maintaining roughly an 80% market share globally in the space, although AbbVie Inc.'s next-generation regimen (glecaprevir/pibrentasvir), with a US FDA user fee date in August, is expected to renew HCV competition if approved as an eight-week, pan-genotypic regimen
