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news.Gilead Sciences, a discoverer, developer and commercializer of therapeutics in the areas of unmet medical need, has reported total revenues of $1.93bn for the first quarter ended 31 March 2011, a decrease of 8%, compared to $2.09bn for the same period in 2010.
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Gilead‘s net income was $651.14m for the first quarter 2011, or $0.08 per diluted share, compared to net income of $854.9m, or $0.92 per diluted share, for the comparable period in 2010.
For the first quarter of 2011, Gilead’s income from operations was $901.97m, compared to $1.16bn for the same period in 2010.
The company’s product sales increased 4% to $1.86bn against $1.79bn in the first quarter of 2010, inclusive of the net price reductions taken in the US due to healthcare reform and due to austerity measures in certain countries of Europe.