Gilead Preview: HIV Drugs Still Focus
Investor attention will once again return to the performance of Gilead Sciences' (GILD) HIV drug franchise when the company reports first-quarter earnings Tuesday.
Lately Wall Street has focused its attention on Gilead's efforts to diversify outside of the HIV treatment market. This includes a push into cardiovascular disease with the $1 billion acquisition of CV Therapeutics (CVTX) and the release of initial phase III results from the company's experimental high blood pressure drug darusentan.
Yet it will be growth in Gilead's HIV drugs (primarily Atripla and Truvada) that is expected to fuel an 18% increase in adjusted first-quarter profits to 63 cents a share on total revenue of just over $1.5 billion, according to Thomson Reuters. In the year-ago quarter, Gilead earned 51 cents a share on revenue of $1.25 billion.
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