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news.Gilead Sciences, a biopharmaceutical company that discovers, develops and commercialises therapeutics in areas of unmet medical need, has reported revenues of $1.94bn for the third quarter ended 30 September 2010, an increase of 8%, compared to $1.8bn for the same period in 2009.
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Gilead posted a net income of $704.88m for the third quarter 2010, or $0.83 per diluted share, compared to $673.03m, or $0.72 per diluted share, for the comparable period in 2009.
Product sales increased 13% to $1.87bn for the third quarter of 2010, compared to $1.65bn in the third quarter of 2009.
Sales of Atripla (efavirenz 600 mg/ emtricitabine 200 mg/ tenofovir disoproxil fumarate 300 mg) for the treatment of HIV infection increased 23% to $742.7m, driven primarily by sales volume growth in the US and Europe.
Sales of Truvada (emtricitabine/tenofovir disoproxil fumarate) for the treatment of HIV infection increased 8% to $668.7m, driven primarily by sales volume growth in the US and Europe.
For the nine months ended 30 September 2010, Gilead posted a revenue of $5.95bn compared to $4.98bn for the year ago period.
The company reported a net income of $2.27bn, or $2.55 per diluted share, compared to $1.83bn, or $1.96 per diluted share, for the year ago period.
Royalty, contract and other revenues resulting primarily from collaborations with corporate partners were $72.1m, down from $152.4m in the third quarter of 2009.
This decrease was due primarily to lower Tamiflu (oseltamivir phosphate) royalties from F Hoffmann-La Roche of $34.5m in the third quarter of 2010, compared to Tamiflu royalties of $113.5m in the prior year period.