NEW YORK, July 30 — Gilead Sciences Inc on Thursday posted a higher-than-expected second-quarter profit, helped by strong demand for its Covid-19 antiviral treatment, Veklury, but sales of its flagship HIV drugs lagged as the pandemic continued to limit visits to doctors.
The biotechnology company’s total revenue for the quarter rose 21 per cent from a year earlier to US$6.2 billion, slightly higher than the average analyst estimate of US$6.07 billion, according to Refinitiv data. Gilead said Veklury sales would continue to be subject to uncertainty since they are tightly linked to Covid-19 hospitalisation rates. The company also said it was no longer pursuing development of an inhaled version of the drug for Covid-19.
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