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CORRECTED-Gilead profit rises 63 pct, sales of older HIV drugs dip
May 2, 2013 / 8:26 PM / 5 years ago

CORRECTED-Gilead profit rises 63 pct, sales of older HIV drugs dip

(Corrects 3rd paragraph to show Complera sales rose 184 percent, not 10 percent; shows that sales of Stribild totaled $92.1 million, with no prior year comparison, not that they rose 184 percent)

May 2 (Reuters) - Gilead Sciences Inc said on Thursday its quarterly profit rose 63 percent as lower sales of the company’s older HIV drugs were offset by higher sales of new products and overall revenue rose 11 percent.

The world’s largest maker of branded HIV drugs said first-quarter net profit rose to $722.2 million, or 43 cents per share, from $442 million, or 28 cents per share, a year earlier.

Sales of HIV drug Atripla fell 1 percent to $877.1 million, while sales of another older product, Truvada, fell 8 percent to $700.2 million. Sales of newer HIV drug Complera rose 184 percent, and recently launched Stribild had sales of $92.1 million for the quarter.

Revenue for the quarter rose 11 percent to $2.53 billion. Analysts, on average, had expected $2.58 billion, according to Thomson Reuters I/B/E/S.

Gilead said it still expects full-year 2013 net product sales of $10 billion to $10.2 billion. (Reporting By Deena Beasley)

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