Gilead has begun treatment-naive hepatitis C patients in a late-stage study of a single-pill combination of GS-7977 and GS-5885.
Phase III studies of GS-7977 plus long-acting interferon and ribavirin are nearing completion, with the first data to be announced in December, Gilead said. The company expects to file GS-7977 for regulatory approval in the second quarter of next year.
Moving back to HIV, Gilead is developing a follow-on version of its core HIV drug Viread. A phase II study of this drug, known as GS-7340, is nearing completion with results to be announced in November.
GS-7340 is designed to cause less kidney toxicity than Viread. If developed successfully, GS-7340 could also help blunt the financial blow of looming generic versions of Viread.For the third quarter, net income was $675.5 millkon, or 85 cents per share, compared to $741.1 million, or 95 cents per share in the third quarter 2011. On a non-GAAP basis, which excludes acquisition-related charges and other expenses, net income for the quarter totaled $1 per share or 6 cents per share better than Street consensus. Total revenue in the third quarter increased 14% to $2.43 billion from $2.12 billion one year ago. -- Reported by Adam Feuerstein in Boston. Follow @AdamFeuerstein
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts