April 22 Gilead Sciences Inc, whose
pricing policy ignited a fierce debate over prescription drug
prices, said its new $1,000 hepatitis C pill generated quarterly
sales of $2.27 billion, helping the company's quarterly net
profit nearly triple.
The Foster City, California-based company on Tuesday
reported net income for the quarter of $2.23 billion, or $1.33
a share, up from $722 million, or 43 cents a share, a year
Revenue doubled to $5 billion, beating by a wide margin the
$3.98 billion average Wall Street analyst forecast, as compiled
by Thomson Reuters I/B/E/S.
Gilead's decision to price the new hepatitis C drug,
Sovaldi, which was approved by U.S. regulators in December, at
$84,000 for a 12-week course of therapy has rankled lawmakers
and insurers, spurring an outcry over the rising costs of
(Reporting by Deena Beasley; Editing by Leslie Adler)