Gilead Sciences, Inc.’s drug for hospitalized COVID-19 patients did much of the work keeping the company’s revenue ship afloat as the combination of the pandemic and loss of patent protection dented sales of its HIV and hepatitis C (HCV) drugs.
The Foster City, CA-based company announced its fourth quarter and full-year 2020 earnings on 4 February, reporting that the quarter’s overall $7.3bn in product sales represented a 26% increase over the same period in 2019, while sales for the year increased 10% year-over-year to $24.4bn. The company also raised its full-year 2021 guidance to $23.7bn-$25.1bn, back in line with the $23bn-$25bn it had predicted mid-2020, before lowering it in the third quarter to a $23bn-$23
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