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Gilead profit meets Wall St forecast, sales rise 14 pct
July 25, 2013 / 8:29 PM / 4 years ago

Gilead profit meets Wall St forecast, sales rise 14 pct

July 25 (Reuters) - Gilead Sciences Inc on Thursday said its quarterly profit rose nearly 9 percent, in line with Wall Street estimates, as sales, including of its flagship HIV drugs, increased 14 percent.

The world’s largest maker of branded HIV drugs said second-quarter net profit rose to $772.6 million, or 46 cents per share, from $711.6 million, or 46 cents per share, a year earlier.

Excluding items, Gilead earned 50 cents a share in the quarter, matching the average analyst estimate, as compiled by Thomson Reuters I/B/E/S.

Sales of HIV drug Atripla rose 4 percent to $938.1 million, while sales of an older product, Truvada, rose 3 percent to $807.8 million. Sales of newer HIV drug Complera more than doubled to $188.7 million, and recently launched Stribild had sales of $99.4 million for the quarter.

Revenue for the quarter rose 15 percent to $2.77 billion, outpacing the average analyst estimate of $2.66 billion.

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