COVID-19 Gives Gilead A Down Quarter, But Guidance Boosted By Remdesivir
Sales were down in the second quarter to $5.07bn, primarily due to coronavirus-related impacts, but Gilead’s COVID-19 antiviral therapy remdesivir will boost revenues in the second half.
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Third quarter earnings show Gilead’s Immunomedics buy paid off, but filgotinib’s path may narrow. The HIV and HCV franchises picked up from their COVID-19 lull.
When the US FDA approved Olumiant (baricitinib) for RA, it insisted on a lower dose because of fears of blood clots. Now that an NIH trial has shown that the product plus Gilead’s Veklury (remdesivir) provided a statistically significant reduction in time to recovery versus remdesivir alone for hospitalized COVID patients, Olumaint may get an emergency use authorization from FDA to treat a condition that itself causes blood clots. That doesn't mean the black box is going away; it's just a reminder that there is as much magic and mystery to medicine sometimes as there is science.
Olumiant (baricitinib) plus Gilead’s Veklury (remdesivir) provided a statistically significant reduction in time to recovery versus remdesivir alone for hospitalized patients in US NIAID’s ACTT-2 clinical trial.