Funny, nothing in the quarterly earnings is ever related to IHD/PAH.
you might have justed missed it.
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Gilead Sciences Announces First Quarter 2011 Financial Results
- Product Sales of $1.86 Billion, Up 4 Percent over First Quarter 2010 -
- Antiviral Product Sales of $1.63 Billion, Up 2 Percent over First Quarter 2010 -
- Reiterates Full Year 2011 Guidance -
FOSTER CITY, Calif., Apr 20, 2011 (BUSINESS WIRE) --
Gilead Sciences, Inc. (Nasdaq:GILD) announced today its results of operations for the quarter ended March 31, 2011. Total revenues for the first quarter of 2011 were $1.93 billion, down 8 percent compared to total revenues of $2.09 billion for the first quarter of 2010. Net income for the first quarter of 2011 was $651.1 million, or $0.80 per diluted share, compared to net income for the first quarter of 2010 of $854.9 million, or $0.92 per diluted share. Non-GAAP net income for the first quarter of 2011, which excludes after-tax acquisition-related, restructuring and stock-based compensation expenses, was $702.8 million, or $0.87 per diluted share, compared to non-GAAP net income for the first quarter of 2010 of $914.8 million, or $0.99 per diluted share. Total revenues, GAAP and non-GAAP net income and diluted earnings per share decreased for the first quarter of 2011 due primarily to a $235.2 million or 95 percent decrease in Tamiflu(R) (oseltamivir phosphate) royalties resulting from a decline in pandemic planning initiatives worldwide.
Product Sales
Product sales increased 4 percent to $1.86 billion for the first quarter of 2011, compared to $1.79 billion in the first quarter of 2010, inclusive of the net price reductions taken in the United States due to healthcare reform and due to austerity measures in certain countries of Europe.
Antiviral Franchise
Antiviral product sales increased 2 percent to $1.63 billion in the first quarter of 2011, up from $1.60 billion for the same quarter of 2010, driven primarily by sales volume growth in the United States and Europe. Sequentially, antiviral product sales decreased 4 percent from $1.70 billion for the previous quarter, due primarily to declines in wholesaler inventory within the contractual boundaries set by Gilead's inventory management agreements and lower levels of purchasing by certain AIDS Drug Assistance Program (ADAP) entities.
Atripla
Sales of Atripla(R) (efavirenz 600 mg/ emtricitabine 200 mg/ tenofovir disoproxil fumarate 300 mg) for the treatment of HIV infection increased 7 percent to $744.5 million for the first quarter of 2011, up from $692.9 million in the first quarter of 2010, driven primarily by sales volume growth in the United States and Europe.
Truvada
Sales of Truvada(R) (emtricitabine 200 mg/tenofovir disoproxil fumarate 300 mg) for the treatment of HIV infection increased 2 percent to $673.1 million for the first quarter of 2011, up from $657.8 million in the first quarter of 2010, driven primarily by sales volume growth in the United States, Europe and Latin America.
Viread
Sales of Viread(R) (tenofovir disoproxil fumarate) for the treatment of HIV infection and chronic hepatitis B decreased 7 percent to $168.4 million for the first quarter of 2011, down from $180.7 million in the first quarter of 2010, due primarily to decreased sales volume in Brazil.
Letairis
Sales of Letairis(R) (ambrisentan) for the treatment of pulmonary arterial hypertension increased 12 percent to $62.2 million for the first quarter of 2011, up from $55.5 million for the first quarter of 2010, driven primarily by sales volume growth.
Ranexa
Sales of Ranexa(R) (ranolazine) for the treatment of chronic angina increased 33 percent to $68.3 million for the first quarter of 2011, up from $51.2 million for the first quarter of 2010, driven primarily by sales volume grow