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Gilead profit misses Wall Street expectations as COVID drug sales decline
2023.04.27 16:30
© Reuters. FILE PHOTO: The logo of Gilead Sciences Inc pharmaceutical company is seen in Oceanside, California, U.S., April 29, 2020. REUTERS/Mike Blake/File Photo
(Reuters) – Gilead Sciences Inc (NASDAQ:) on Thursday reported a lower-than-expected first-quarter profit as sales from COVID-19 antiviral Veklury declined more than anticipated.
Sales of the drug decreased by 63% to $573 million for the quarter, well off analysts’ estimates of $697.6 million.
The company reported a profit of $1.37 per share excluding items in the quarter ended March 31, compared to analyst expectations of $1.54 per share, according to Refinitiv data.
