Gilead's product sales soar due to Harvoni

Gilead Sciences announced second quarter financial results and showed an increase of $1.7 billion for overall product sales and an increase of $1.6 billion in antiviral product sales since the second quarter of 2014, due in large part to the sales of Harvoni, according to a press release from Gilead.

According to the financial report, total product sales for the second quarter of 2015 were $8.1 billion, an increase of $1.7 billion from $6.4 billion in sales of the 2014 second quarter. The sales in the U.S. alone increased to $5.6 billion from $4.8 billion in the second quarter of 2014 and product sales in Europe increased from $1.3 billion to $2 billion.

Antiviral product sales increased to $7.6 billion from $6 billion in the second quarter of 2014. The release states this increase is due to the FDA’s approval and European approval of Harvoni (ledipasvir/sofosbuvir, Gilead Sciences) for the treatment of HCV in the fourth quarter of 2014. The increase in Harvoni sales was offset by a decrease in sales of Sovaldi (sofosbuvir, Gilead Sciences), due to the “uptake in Harvoni.” More than 180,000 patients in the U.S. and European Union have been treated year-to-date with either Sovaldi or Harvoni, according to the release.

Other product sales increased from $401 million in the second quarter of 2014 to $495 million for the second quarter of 2015. These products included Letairis (ambrisentan), Ranexa (ranolazine) and AmBisome (amphotericin B), according to the release.

Gilead also reported an increase in non-GAAP research and development spending from $27,000 to $30,000 during the second quarter of 2015 due to continuing research and expanding phase 3 clinical studies in their liver disease and oncology research departments.

In addition to financial results, Gilead reported products and their pipeline highlighted during the second quarter of 2015. These items include: a new drug application submitted to the FDA for a combination regimen of emtricitabine and tenofovir alafenamide for HIV-1 infection in adults; a marketing authorization application for emtricitabine and tenofovir alafenamide is under evaluation by the European Medicines Agency; positive clinical studies of sofosbuvir-based regimens for the treatment of HCV genotypes 2, 3, 4 and 5 presented at International Liver Congress 2015; among other research.