Gilead Defends Growth Prospects As Veklury Sales Drive Q3 Revenue Surge
Guidance Lowered For Sales Excluding The COVID-19 Drug
Third quarter revenue rose 13% year-over year to $7.4bn but fell 3% without Veklury to $5.4bn as the HCV and HIV franchises felt continued pandemic and generics impacts.
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Coronavirus Update: As Pfizer/BioNTech Begin Omicron Vaccine Tests, Regulators Want To Explore Multivalent Route
Pfizer explores options for new vaccine update, Veklury expands to non-hospitalized patients but Regeneron and Lilly therapies stopped in face of Omicron efficacy drop-off.
At the J.P. Morgan meeting, the company said its business development priorities have not changed, but it plans to prioritize licensing and small acquisitions rather than big ticket deals in 2022.
Evidence that the new variant dulls drugs and vaccines’ efficacy creates uncertainty for 2022, but new products are in the wings.