Gilead Sciences Q2 revenues up 17%

Biopharmaceutical company cheers second quarter success thanks mainly to its abtiviral products

Gilead Sciences, a biopharmaceutical company that discovers, develops and commercializes therapeutics in areas of unmet medical need, has reported revenues of $1.93bn for the second quarter ended June 30, 2010, an increase of 17 per cent, compared to $1.65bn for the comparable period in 2009.

Gilead Sciences has posted a net income of $712.1m for the second quarter 2010, or $0.79 per diluted share, compared to $571.4m, or $0.61 per diluted share, for the comparable period in 2009.

Non-GAAP net income for the second quarter of 2010, which excludes after-tax acquisition-related expenses, restructuring expenses and stock-based compensation expenses, was $760.7m, or $0.85 per diluted share.

Gilead Sciences has reported that its product sales increased 15 per cent to $1.81bn for the second quarter of 2010, compared to $1.57bn in the second quarter of 2009.

Gilead Sciences said that the increase in sales was driven primarily by its antiviral franchise, due to the strong growth in sales of Atripla (efavirenz 600 mg/ emtricitabine 200 mg/ tenofovir disoproxil fumarate 300 mg).