Gilead Coming To The End Of HCV Road With Triple-Drug Regimen
Gilead reported an expected and continued sales decline in HCV – an area in which the company soon will be done with R&D, since unmet needs have been filled or will be soon by drug regimens from Gilead and its competitors. The company is hunting new assets, but taking a disciplined approach on price and quality.
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Bringing three-drug, single-tablet regimen to market means Gilead has an answer for every hepatitis C patient, company says. It still lacks an answer, however, for its future business direction as HCV revenue wanes.
Gilead CEO John Milligan, pressured by an analyst, gave a brief rundown of the company's strategic priorities as investors wait for the company to spend its $34bn in cash on revenue-increasing opportunities to offset declining hepatitis C drug sales.
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.