Gilead Sees Prospects For Declining HCV Revenues To Stabilize
A confluence of factors, including a higher proportion of patients covered by public payers, has caused Gilead's powerhouse hepatitis C franchise to slow down and now begin showing signs of decline.
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A 22% decline in hepatitis C sales year-over-year was offset somewhat by a 17% uptick for the HIV franchise, but the virology powerhouse is guiding for continued HCV falloff in 2017.
The three most expensive drug categories, on a per-member/per-year basis for the PBM's clients, increased by 19% or more in 2016, and similar growth is expected in the next three years. Per-patient spending on HCV drugs, however, declined by 34% last year.
Morningstar expects 229% revenue growth during the 2015-2020 period for BioMarin, far stronger than larger competitors. Virology powerhouse Gilead is the only one of the 20 largest biopharmas expected to face a decline in revenue over the period.