Gilead Sciences Reports Strong Q2 2021 Results with Veklury Sales Exceeding $800 Million and Significant Growth in CAR-T Therapies

On July 29 local time, Gilead Sciences (GILD.US) released its financial results for the second quarter ended June 30, 2021. The report showed that Gilead's total revenue for Q2 was $6.217 billion, up 21% year-over-year; net income was $1.522 billion, compared to a net loss of $3.339 billion in the same period last year; diluted earnings per share was $1.21, compared to a loss per share of $2.66 in the same period last year.

The financial report indicates that revenue growth was primarily driven by increased demand for Veklury (remdesivir), Biktarvy, and hepatitis C virus (HCV) products.

By product, Gilead Sciences, Inc. reported HIV product sales of $3.938 billion, down 2% year-over-year; HCV product sales of $549 million, up 23% year-over-year; HBV/HDV product sales of $237 million, up 8% year-over-year; and Trodelvy sales of $89 million.

Veklury (remdesivir) sales were $829 million; sales of other products were $291 million, up 20% year-over-year.

Compared with the same period in 2020, sales of cell therapy products in the second quarter of 2021 increased by 39%, reaching $219 million.

Yescarta sales increased to $178 million in the second quarter of 2021, reflecting its continued use in the United States for relapsed or refractory indolent follicular lymphoma (FL) following U.S. Food and Drug Administration (FDA) approval in the first quarter of 2021, as well as continued market expansion in Europe.

Driven by the launch of the mantle cell lymphoma product in the United States and Europe, Tecartus recorded sales of $41 million in the second quarter of 2021.

Gilead Sciences raised its full-year 2021 guidance, expecting product sales to range between $24.4 billion and $25.0 billion, compared to the previous range of $23.7 billion to $25.1 billion. The company stated that this reflects robust performance in the first half of the year and updated expectations for the second half of 2021.

The company also updated its other financial guidance, projecting full-year 2021 product sales (excluding Veklury) to be between $21.7 billion and $21.9 billion, previously $21.7 billion to $22.1 billion; Veklury sales to be between $2.7 billion and $3.1 billion, previously $2.0 billion to $3.0 billion; GAAP earnings per share (EPS) between $4.70 and $5.05, previously between $4.75 and $5.45; and non-GAAP EPS between $6.90 and $7.25, previously between $6.75 and $7.45.

Reference:

1.https://www.gilead.com/news-and-press/press-room/press-releases/2021/7/gilead-sciences-announces-second-quarter-2021-financial-results

2.https://investors.gilead.com/static-files/a67bf84b-ece1-480b-bedf-665c6e4c57a9

Managing Editor: Liuli

Disclaimer: This article is compiled by Yaozhi Network. All copyrights belong to the original authors. It is published for informational purposes only and does not represent the views of this platform. Should any issues arise concerning the content, copyright, or other matters, please contact us by leaving a message on this website, and we will promptly remove the content!