Veklury drives Gilead Q1 sales

 First Quarter 2021 Product Sales Increased 16% Year-Over-Year Primarily Driven by Veklury

Returned $1.2 Billion of Cash to Shareholders in First Quarter 2021 Through Dividends and Share Repurchases

Gilead Sciences, Inc. (Nasdaq: GILD) announced today its results of operations for the first quarter 2021.

"We have made strong progress in this first quarter, with our new partnership with Merck in long-acting HIV therapies, two newly approved indications in the U.S. for Trodelvy in metastatic triple-negative breast cancer and metastatic urothelial cancer, and the addition of Hepcludex to our portfolio," said Daniel O’Day, Chairman and Chief Executive Officer, Gilead Sciences. "2021 is a pivotal year for Gilead, with key milestones across our virology and oncology portfolios. We’re looking forward to advancing our pipeline of promising therapies in the coming months."

First Quarter 2021 Financial Results

• Total first quarter 2021 revenue of $6.4 billion increased 16% compared to the same period in 2020, primarily due to Veklury® (remdesivir) sales, Cell Therapy growth with Yescarta® (axicabtagene ciloleucel) and the U.S. launch of Tecartus® (brexucabtagene autoleucel) in the third quarter 2020, the first full quarter recognition of Trodelvy® (sacituzumab govitecan-hziy 180 mg) sales, and Hepatitis B virus ("HBV") growth with Vemlidy® (tenofovir alafenamide 25 mg).

• Diluted Earnings Per Share ("EPS") increased 12% to $1.37 for the first quarter 2021 compared to the same period in 2020, primarily driven by revenue growth, partially offset by fair value loss adjustments related to Gilead’s equity investment in Galapagos NV ("Galapagos") and lower interest income.

• Non-GAAP diluted EPS increased 24% to $2.08 for the first quarter 2021 compared to the same period in 2020, primarily due to higher operating income and lower effective tax rate, offset by lower interest income.

• As of March 31, 2021, Gilead had $6.2 billion of cash, cash equivalents and marketable debt securities compared to $7.9 billion as of December 31, 2020.

• During the first quarter 2021, Gilead generated $2.6 billion in operating cash flow.

• During the first quarter 2021, Gilead repaid $1.3 billion of debt, utilized $1.3 billion on acquisitions, net of cash acquired (including in-process research and development ("IPR&D")), paid cash dividends of $917 million and utilized $309 million on repurchases of common stock.

https://finance.yahoo.com/news/gilead-sciences-announces-first-quarter-200100038.html