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- Product Sales of
- Diluted EPS of
- Non-GAAP Diluted EPS of
- Revised Full Year 2017 Guidance -
| Three Months Ended | Six Months Ended | |||||||||||
| June 30, | June 30, | |||||||||||
| (In millions, except per share amounts) | 2017 | 2016 | 2017 | 2016 | ||||||||
| Product sales | $ | 7,046 | $ | 7,651 | $ | 13,423 | $ | 15,332 | ||||
| Royalty, contract and other revenues | 95 | 125 | 223 | 238 | ||||||||
| Total revenues | $ | 7,141 | $ | 7,776 | $ | 13,646 | $ | 15,570 | ||||
| Net income attributable to Gilead | $ | 3,073 | $ | 3,497 | $ | 5,775 | $ | 7,063 | ||||
| Non-GAAP net income* | $ | 3,372 | $ | 4,177 | $ | 6,321 | $ | 8,451 | ||||
| Diluted earnings per share | $ | 2.33 | $ | 2.58 | $ | 4.38 | $ | 5.11 | ||||
| Non-GAAPdiluted earnings per share* | $ | 2.56 | $ | 3.08 | $ | 4.79 | $ | 6.11 | ||||
*Non-GAAP net income and non-GAAP diluted earnings per share exclude acquisition-related, up-front collaboration, stock-based compensation and other expenses. A reconciliation between GAAP and non-GAAP financial information is provided in the tables on pages 7 and 8.
Product Sales
Total product sales for the second quarter of 2017 were
Antiviral Product Sales
Antiviral product sales, which include sales of our HIV, chronic
hepatitis B (HBV) and chronic hepatitis C (HCV) products, were
-
HIV and HBV product sales were
$3.6 billion compared to$3.1 billion for the same period in 2016. The increase was primarily due to the continued uptake of our tenofovir alafenamide (TAF) based products, Genvoya® (elvitegravir 150 mg/cobicistat 150 mg/emtricitabine 200 mg/tenofovir alafenamide 10 mg), Descovy® (emtricitabine 200 mg/tenofovir alafenamide 25 mg) and Odefsey® (emtricitabine 200 mg/rilpivirine 25 mg/tenofovir alafenamide 25 mg). -
HCV product sales, which consist of Harvoni® (ledipasvir 90
mg/sofosbuvir 400 mg), Sovaldi® (sofosbuvir 400 mg) and
Epclusa® (sofosbuvir 400 mg/velpatasvir 100 mg), were
$2.9 billion compared to$4.0 billion for the same period in 2016. The decline was due to lower sales of Harvoni and Sovaldi across all major markets, partially offset by sales of Epclusa, which was approved inthe United States andEurope in June andJuly 2016 , respectively.
Other Product Sales
Other product sales, which include Letairis® (ambrisentan),
Ranexa® (ranolazine) and AmBisome® (amphotericin B
liposome for injection), were
Operating Expenses
| Three Months Ended | Six Months Ended | |||||||||||
| June 30, | June 30, | |||||||||||
| (In millions) | 2017 | 2016 | 2017 | 2016 | ||||||||
| Research and development expenses (R&D) | $ | 864 | $ | 1,484 | $ | 1,795 | $ | 2,749 | ||||
| Non-GAAP R&D expenses* | $ | 812 | $ | 1,040 | $ | 1,701 | $ | 1,809 | ||||
| Selling, general and administrative expenses (SG&A) | $ | 897 | $ | 890 | $ | 1,747 | $ | 1,575 | ||||
| Non-GAAP SG&A expenses* | $ | 827 | $ | 838 | $ | 1,634 | $ | 1,476 | ||||
* Non-GAAP R&D and SG&A expenses exclude acquisition-related, up-front collaboration, stock-based compensation and other expenses. A reconciliation between GAAP and non-GAAP financial information is provided in the tables on pages 7 and 8.
During the second quarter of 2017, compared to the same period in 2016:
-
R&D expenses decreased primarily due to the 2016 impact of Gilead’s
purchase of
Nimbus Apollo, Inc. and aU.S. Food and Drug Administration (FDA ) priority review voucher. -
Non-GAAP R&D expenses* decreased primarily due to the
2016 impact of Gilead’s purchase of an
FDA priority review voucher.
Cash,
As of
Revised Full Year 2017 Guidance
Gilead revised its full year 2017 guidance, initially provided on
| (In millions, except percentages and per share amounts) | Initially Provided February 7, 2017 Reiterated May 2, 2017 | Updated July 26, 2017 |
| Net Product Sales | $22,500 - $24,500 | $24,000 - $25,500 |
| Non-HCV Product Sales | $15,000 - $15,500 | $15,500 - $16,000 |
| HCV Product Sales | $7,500 - $9,000 | $8,500 - $9,500 |
| Non-GAAP* | ||
| Product Gross Margin | 86% - 88% | 86% - 88% |
| R&D Expenses | $3,100 - $3,400 | $3,200 - $3,400 |
| SG&A Expenses | $3,100 - $3,400 | $3,200 - $3,400 |
| Effective Tax Rate | 25.0% - 28.0% | 25.0% - 28.0% |
| Diluted EPS Impact of Acquisition-related, Up-front Collaboration, Stock-based Compensation and Other Expenses | $0.84 - $0.91 | $0.86 - $0.93 |
*Non-GAAP Product Gross Margin, R&D and SG&A expenses and effective tax rate exclude acquisition-related, up-front collaboration, stock-based compensation and other expenses. A reconciliation between GAAP and non-GAAP full year 2017 guidance is provided in the tables on page 9.
Product and Pipeline Updates announced by Gilead during the Second Quarter of 2017 include:
Antiviral and Liver Diseases Programs
-
Announced that the European Committee for the Medicinal Products for
Human Use, the scientific committee of the
European Medicines Agency , adopted a positive opinion on the marketing authorization application for VoseviTM, a once-daily, single-tablet regimen of sofosbuvir 400 mg, velpatasvir 100 mg and voxilaprevir 100 mg for the treatment of HCV-infected patients. OnJuly 18, 2017 , Vosevi was approved byFDA . -
Announced the submission of a new drug application (NDA) to
FDA for an investigational, once-daily single-tablet regimen containing bictegravir (50 mg) (BIC), a novel investigational integrase strand transfer inhibitor, and emtricitabine/tenofovir alafenamide (200/25 mg) (FTC/TAF) for the treatment of HIV-1 infection in adults. BIC/FTC/TAF demonstrated high rates of virologic suppression and no treatment-emergent resistance through 48 weeks in Phase 3 clinical trials among treatment-naïve adult patients and among virologically suppressed adult patients who switched regimens. Additionally, Gilead submitted a marketing authorization application for BIC/FTC/TAF in theEuropean Union during the second quarter of 2017. -
Presented data at the 52nd Annual Meeting of the
European Association for the Study of the Liver : The International Liver Congress™ 2017 which included the announcement of:- Positive results from an open-label, proof-of-concept study evaluating GS-0976, an investigational inhibitor of acetyl-CoA carboxylase, in patients with nonalcoholic steatohepatitis. The data, from ten patients treated with GS-0976 20 mg taken orally once daily for 12 weeks, indicated that treatment was associated with statistically significant improvements in liver fat content and noninvasive markers of fibrosis, via inhibition of hepatic de novo lipogenesis.
- Positive results from two Phase 2 studies evaluating Harvoni tablets in HCV-infected patient populations not previously studied in dedicated clinical trials with direct-acting antiviral therapies. The studies demonstrated HCV cure rates of 99 percent in children aged 6 to 11 years, and 100 percent in adult patients co-infected with HCV and HBV.
- Positive 96-week results from two ongoing Phase 3 studies evaluating the safety and efficacy of daily Vemlidy® (TAF 25mg) in immune active patients and in patients switching from Gilead’s Viread (tenofovir disoproxil fumarate, TDF 300 mg). Vemlidy is a once-daily treatment approved for adults with HBV infection with compensated liver disease.
-
Announced that
FDA approved supplemental indications for Harvoni tablets and Sovaldi tablets for the treatment of HCV infection in adolescents without cirrhosis or with compensated cirrhosis, 12 years of age and older, or weighing at least 35kg. Harvoni was approved for pediatric patients with genotype 1, 4, 5 or 6 HCV infection. Sovaldi was approved for pediatric patients with genotype 2 or 3 HCV infection, in combination with ribavirin.
Non-GAAP Financial Information
The information presented in this document has been prepared by Gilead in accordance with U.S. generally accepted accounting principles (GAAP), unless otherwise noted as non-GAAP. Management believes non-GAAP information is useful for investors, when considered in conjunction with Gilead’s GAAP financial information, because management uses such information internally for its operating, budgeting and financial planning purposes. Non-GAAP information is not prepared under a comprehensive set of accounting rules and should only be used to supplement an understanding of Gilead’s operating results as reported under GAAP. Non-GAAP measures may be defined and calculated differently by other companies in the same industry. A reconciliation between GAAP and non-GAAP financial information is provided in the tables on pages 7, 8 and 9.
Conference Call
At
A replay of the webcast will be archived on the company’s website for
one year, and a phone replay will be available approximately two hours
following the call through
About Gilead
Forward-looking Statements
Statements included in this press release that are not historical in
nature are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Gilead cautions readers that
forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially.
These risks and uncertainties include: Gilead’s ability to achieve its
anticipated full year 2017 financial results; Gilead’s ability to
sustain growth in revenues for its antiviral and other programs; the
risk that estimates of patients with HCV or anticipated patient demand
may not be accurate; the risk that private and public payers may be
reluctant to provide, or continue to provide, coverage or reimbursement
for new products, including Vosevi, Vemlidy, Epclusa, Descovy, Odefsey
and Genvoya; the potential for increased pricing pressure globally and
contracting pressure as well as decreased volume and market share from
additional competitive HCV launches; a larger than anticipated shift in
payer mix to more highly discounted payer segments and geographic
regions and decreases in treatment duration; availability of funding for
state
All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation to update any such forward-looking statements.
Gilead owns or has rights to various trademarks, copyrights and trade
names used in our business, including the following: GILEAD®,
ATRIPLA® is a registered trademark of Bristol-Myers Squibb &
For more information on
GILEAD SCIENCES, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) (in millions, except per share amounts) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2017 | 2016 | 2017 | 2016 | |||||||||||||
| Revenues: | ||||||||||||||||
| Product sales | $ | 7,046 | $ | 7,651 | $ | 13,423 | $ | 15,332 | ||||||||
| Royalty, contract and other revenues | 95 | 125 | 223 | 238 | ||||||||||||
| Total revenues | 7,141 | 7,776 | 13,646 | 15,570 | ||||||||||||
| Costs and expenses: | ||||||||||||||||
| Cost of goods sold | 1,126 | 864 | 2,083 | 2,057 | ||||||||||||
| Research and development expenses | 864 | 1,484 | 1,795 | 2,749 | ||||||||||||
| Selling, general and administrative expenses | 897 | 890 | 1,747 | 1,575 | ||||||||||||
| Total costs and expenses | 2,887 | 3,238 | 5,625 | 6,381 | ||||||||||||
| Income from operations | 4,254 | 4,538 | 8,021 | 9,189 | ||||||||||||
| Interest expense | (269 | ) | (227 | ) | (530 | ) | (457 | ) | ||||||||
| Other income (expense), net | 130 | 88 | 241 | 169 | ||||||||||||
| Income before provision for income taxes | 4,115 | 4,399 | 7,732 | 8,901 | ||||||||||||
| Provision for income taxes | 1,046 | 902 | 1,964 | 1,837 | ||||||||||||
| Net income | 3,069 | 3,497 | 5,768 | 7,064 | ||||||||||||
| Net income (loss) attributable to noncontrolling interest | (4 | ) | — | (7 | ) | 1 | ||||||||||
| Net income attributable to Gilead | $ | 3,073 | $ | 3,497 | $ | 5,775 | $ | 7,063 | ||||||||
| Net income per share attributable to Gilead common stockholders - basic | $ | 2.35 | $ | 2.62 | $ | 4.42 | $ | 5.20 | ||||||||
| Shares used in per share calculation - basic | 1,307 | 1,335 | 1,307 | 1,359 | ||||||||||||
| Net income per share attributable to Gilead common stockholders - diluted | $ | 2.33 | $ | 2.58 | $ | 4.38 | $ | 5.11 | ||||||||
| Shares used in per share calculation - diluted | 1,317 | 1,355 | 1,319 | 1,383 | ||||||||||||
| Cash dividends declared per share | $ | 0.52 | $ | 0.47 | $ | 1.04 | $ | 0.90 | ||||||||
GILEAD SCIENCES, INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION (unaudited) (in millions, except percentages and per share amounts) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2017 | 2016 | 2017 | 2016 | |||||||||||||
| Cost of goods sold reconciliation: | ||||||||||||||||
| GAAP cost of goods sold | $ | 1,126 | $ | 864 | $ | 2,083 | $ | 2,057 | ||||||||
| Acquisition related-amortization of purchased intangibles | (210 | ) | (210 | ) | (420 | ) | (420 | ) | ||||||||
| Stock-based compensation expenses | (4 | ) | (4 | ) | (8 | ) | (7 | ) | ||||||||
| Other(1) | (20 | ) | 3 | (20 | ) | 6 | ||||||||||
| Non-GAAP cost of goods sold | $ | 892 | $ | 653 | $ | 1,635 | $ | 1,636 | ||||||||
| Product gross margin reconciliation: | ||||||||||||||||
| GAAP product gross margin | 84.0 | % | 88.7 | % | 84.5 | % | 86.6 | % | ||||||||
| Acquisition related-amortization of purchased intangibles | 3.0 | % | 2.7 | % | 3.1 | % | 2.7 | % | ||||||||
| Other(1) | 0.3 | % | — | % | 0.1 | % | — | % | ||||||||
| Non-GAAP product gross margin(2) | 87.3 | % | 91.5 | % | 87.8 | % | 89.3 | % | ||||||||
| Research and development expenses reconciliation: | ||||||||||||||||
| GAAP research and development expenses | $ | 864 | $ | 1,484 | $ | 1,795 | $ | 2,749 | ||||||||
| Up-front collaboration expenses | — | — | — | (368 | ) | |||||||||||
| Acquisition related expenses-acquired IPR&D | — | (400 | ) | — | (400 | ) | ||||||||||
| Acquisition related-IPR&D impairment | — | — | — | (114 | ) | |||||||||||
| Stock-based compensation expenses | (47 | ) | (44 | ) | (89 | ) | (85 | ) | ||||||||
| Other(1) | (5 | ) | — | (5 | ) | 27 | ||||||||||
| Non-GAAP research and development expenses | $ | 812 | $ | 1,040 | $ | 1,701 | $ | 1,809 | ||||||||
| Selling, general and administrative expenses reconciliation: | ||||||||||||||||
| GAAP selling, general and administrative expenses | $ | 897 | $ | 890 | $ | 1,747 | $ | 1,575 | ||||||||
| Stock-based compensation expenses | (51 | ) | (47 | ) | (94 | ) | (91 | ) | ||||||||
| Other(1) | (19 | ) | (5 | ) | (19 | ) | (8 | ) | ||||||||
| Non-GAAP selling, general and administrative expenses | $ | 827 | $ | 838 | $ | 1,634 | $ | 1,476 | ||||||||
| Operating margin reconciliation: | ||||||||||||||||
| GAAP operating margin | 59.6 | % | 58.4 | % | 58.8 | % | 59.0 | % | ||||||||
| Up-front collaboration expenses | — | % | — | % | — | % | 2.4 | % | ||||||||
| Acquisition related-amortization of purchased intangibles | 2.9 | % | 2.7 | % | 3.1 | % | 2.7 | % | ||||||||
| Acquisition related expenses-acquired IPR&D | — | % | 5.1 | % | — | % | 2.6 | % | ||||||||
| Acquisition related-IPR&D impairment | — | % | — | % | — | % | 0.7 | % | ||||||||
| Stock-based compensation expenses | 1.4 | % | 1.2 | % | 1.4 | % | 1.2 | % | ||||||||
| Other(1) | 0.6 | % | — | % | 0.3 | % | (0.2 | )% | ||||||||
| Non-GAAP operating margin(2) | 64.6 | % | 67.5 | % | 63.6 | % | 68.4 | % | ||||||||
| Notes: | ||||||||||||||||
| (1) Amounts related to restructuring, contingent consideration, consolidation of a contract manufacturer and/or other individually insignificant amounts | ||||||||||||||||
| (2) Amounts may not sum due to rounding | ||||||||||||||||
GILEAD SCIENCES, INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION - (Continued) (unaudited) (in millions, except percentages and per share amounts) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2017 | 2016 | 2017 | 2016 | |||||||||||||
| Effective tax rate reconciliation: | ||||||||||||||||
| GAAP effective tax rate | 25.4 | % | 20.5 | % | 25.4 | % | 20.6 | % | ||||||||
| Up-front collaboration expenses | — | % | — | % | — | % | (0.7 | )% | ||||||||
| Acquisition related-amortization of purchased intangibles | (1.1 | )% | (0.7 | )% | (1.1 | )% | (0.7 | )% | ||||||||
| Acquisition related expenses-acquired IPR&D | — | % | (1.5 | )% | — | % | (0.8 | )% | ||||||||
| Stock-based compensation expenses(1) | 0.5 | % | — | % | 0.5 | % | — | % | ||||||||
| Other(2) | (0.1 | )% | — | % | (0.1 | )% | 0.1 | % | ||||||||
| Non-GAAP effective tax rate(3) | 24.7 | % | 18.3 | % | 24.7 | % | 18.5 | % | ||||||||
| Net income attributable to Gilead reconciliation: | ||||||||||||||||
| GAAP net income attributable to Gilead | $ | 3,073 | $ | 3,497 | $ | 5,775 | $ | 7,063 | ||||||||
| Up-front collaboration expenses | — | — | — | 368 | ||||||||||||
| Acquisition related-amortization of purchased intangibles | 202 | 204 | 404 | 408 | ||||||||||||
| Acquisition related expenses-acquired IPR&D | — | 400 | — | 400 | ||||||||||||
| Acquisition related-IPR&D impairment | — | — | — | 99 | ||||||||||||
| Stock-based compensation expenses(1) | 61 | 69 | 106 | 133 | ||||||||||||
| Other(2) | 36 | 7 | 36 | (20 | ) | |||||||||||
| Non-GAAP net income attributable to Gilead | $ | 3,372 | $ | 4,177 | $ | 6,321 | $ | 8,451 | ||||||||
| Diluted earnings per share reconciliation: | ||||||||||||||||
| GAAP diluted earnings per share | $ | 2.33 | $ | 2.58 | $ | 4.38 | $ | 5.11 | ||||||||
| Up-front collaboration expenses | — | — | — | 0.27 | ||||||||||||
| Acquisition related-amortization of purchased intangibles | 0.15 | 0.15 | 0.31 | 0.30 | ||||||||||||
| Acquisition related expenses-acquired IPR&D | — | 0.30 | — | 0.29 | ||||||||||||
| Acquisition related-IPR&D impairment | — | — | — | 0.07 | ||||||||||||
| Stock-based compensation expenses(1) | 0.05 | 0.05 | 0.08 | 0.10 | ||||||||||||
| Other(2) | 0.03 | 0.01 | 0.03 | (0.01 | ) | |||||||||||
| Non-GAAP diluted earnings per share(3) | $ | 2.56 | $ | 3.08 | $ | 4.79 | $ | 6.11 | ||||||||
| Non-GAAP adjustment summary: | ||||||||||||||||
| Cost of goods sold adjustments | $ | 234 | $ | 211 | $ | 448 | $ | 421 | ||||||||
| Research and development expenses adjustments | 52 | 444 | 94 | 940 | ||||||||||||
| Selling, general and administrative expenses adjustments | 70 | 52 | 113 | 99 | ||||||||||||
| Total non-GAAP adjustments before tax | 356 | 707 | 655 | 1,460 | ||||||||||||
| Income tax effect(1) | (57 | ) | (32 | ) | (109 | ) | (77 | ) | ||||||||
| Other(2) | — | 5 | — | 5 | ||||||||||||
| Total non-GAAP adjustments after tax | $ | 299 | $ | 680 | $ | 546 | $ | 1,388 | ||||||||
| Notes: | ||||||||||||||||
| (1) Income tax effect related to stock-based compensation expenses for the three and six months ended June 30, 2017 include the incremental tax benefit of $13 million and $33 million, respectively, recognized from the adoption of Accounting Standards Update 2016-09 “Improvements to Employee Share-Based Payment Accounting” | ||||||||||||||||
| (2) Amounts related to restructuring, contingent consideration, consolidation of a contract manufacturer and/or other individually insignificant amounts | ||||||||||||||||
| (3) Amounts may not sum due to rounding | ||||||||||||||||
GILEAD SCIENCES, INC. RECONCILIATION OF GAAP TO NON-GAAP 2017 FULL YEAR GUIDANCE (unaudited) (in millions, except percentages and per share amounts) | ||||
| Initially Provided February 7, 2017 Reiterated May 2, 2017 | Updated July 26, 2017 | |||
| Projected product gross margin GAAP to non-GAAP reconciliation: | ||||
| GAAP projected product gross margin | 82% - 84% | 82% - 84% | ||
| Acquisition-related expenses | 4% - 4% | 4% - 4% | ||
| Non-GAAP projected product gross margin(1) | 86% - 88% | 86% - 88% | ||
| Projected research and development expenses GAAP to non-GAAP reconciliation: | ||||
| GAAP projected research and development expenses | $3,295 - $3,640 | $3,410 - $3,655 | ||
| Acquisition-related expenses / up-front collaboration expenses | (15) - (45) | (15) - (45) | ||
| Stock-based compensation expenses | (180) - (195) | (195) - (210) | ||
| Non-GAAP projected research and development expenses | $3,100 - $3,400 | $3,200 - $3,400 | ||
| Projected selling, general and administrative expenses GAAP to non-GAAP reconciliation: | ||||
| GAAP projected selling, general and administrative expenses | $3,305 - $3,615 | $3,435 - $3,645 | ||
| Stock-based compensation expenses | (205) - (215) | (235) - (245) | ||
| Non-GAAP projected selling, general and administrative expenses | $3,100 - $3,400 | $3,200 - $3,400 | ||
| Projected diluted EPS impact of acquisition-related, up-front collaboration, stock-based compensation and other expenses: | ||||
| Acquisition-related expenses / up-front collaboration expenses | $0.62 - $0.67 | $0.62 - $0.67 | ||
| Stock-based compensation expenses | 0.22 - 0.24 | 0.24 - 0.26 | ||
| Projected diluted EPS impact of acquisition-related, up-front collaboration, stock-based compensation and other expenses | $0.84 - $0.91 | $0.86 - $0.93 | ||
| Note: | ||||
| (1) Stock-based compensation expenses have a less than one percent impact on non-GAAP projected product gross margin | ||||
GILEAD SCIENCES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (in millions) | |||||||
| June 30, | December 31, | ||||||
| 2017 | 2016(1) | ||||||
| Cash, cash equivalents and marketable securities | $ | 36,576 | $ | 32,380 | |||
| Accounts receivable, net | 4,478 | 4,514 | |||||
| Inventories | 1,408 | 1,587 | |||||
| Property, plant and equipment, net | 3,012 | 2,865 | |||||
| Intangible assets, net | 8,551 | 8,971 | |||||
| Goodwill | 1,172 | 1,172 | |||||
| Other assets | 5,066 | 5,488 | |||||
| Total assets | $ | 60,263 | $ | 56,977 | |||
| Current liabilities | $ | 8,492 | $ | 9,218 | |||
| Long-term liabilities | 28,680 | 28,396 | |||||
| Stockholders’ equity(2) | 23,091 | 19,363 | |||||
| Total liabilities and stockholders’ equity | $ | 60,263 | $ | 56,977 | |||
| Notes: | |||||||
| (1) Derived from the audited consolidated financial statements as of December 31, 2016. Certain amounts have been reclassified to conform to current year presentation | |||||||
| (2) As of June 30, 2017, there were 1,306 million shares of common stock issued and outstanding | |||||||
GILEAD SCIENCES, INC. PRODUCT SALES SUMMARY (unaudited) (in millions) | |||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||
| June 30, | June 30, | ||||||||||||||
| 2017 | 2016 | 2017 | 2016 | ||||||||||||
| Antiviral products: | |||||||||||||||
| Harvoni – U.S. | $ | 984 | $ | 1,474 | $ | 1,910 | $ | 2,881 | |||||||
| Harvoni – Europe | 230 | 512 | 473 | 1,067 | |||||||||||
| Harvoni – Other International | 168 | 578 | 370 | 1,633 | |||||||||||
| 1,382 | 2,564 | 2,753 | 5,581 | ||||||||||||
| Epclusa – U.S. | 864 | 64 | 1,599 | 64 | |||||||||||
| Epclusa – Europe | 248 | — | 386 | — | |||||||||||
| Epclusa – Other International | 59 | — | 78 | — | |||||||||||
| 1,171 | 64 | 2,063 | 64 | ||||||||||||
| Genvoya – U.S. | 710 | 268 | 1,379 | 409 | |||||||||||
| Genvoya – Europe | 125 | 30 | 212 | 46 | |||||||||||
| Genvoya – Other International | 22 | 4 | 35 | 5 | |||||||||||
| 857 | 302 | 1,626 | 460 | ||||||||||||
| Truvada – U.S. | 567 | 631 | 1,031 | 1,207 | |||||||||||
| Truvada – Europe | 184 | 245 | 373 | 496 | |||||||||||
| Truvada – Other International | 61 | 66 | 122 | 137 | |||||||||||
| 812 | 942 | 1,526 | 1,840 | ||||||||||||
| Atripla – U.S. | 334 | 479 | 650 | 968 | |||||||||||
| Atripla – Europe | 86 | 140 | 180 | 283 | |||||||||||
| Atripla – Other International | 55 | 54 | 97 | 97 | |||||||||||
| 475 | 673 | 927 | 1,348 | ||||||||||||
| Sovaldi – U.S. | 61 | 775 | 88 | 1,420 | |||||||||||
| Sovaldi – Europe | 113 | 263 | 219 | 543 | |||||||||||
| Sovaldi – Other International | 141 | 320 | 321 | 672 | |||||||||||
| 315 | 1,358 | 628 | 2,635 | ||||||||||||
| Viread – U.S. | 141 | 142 | 258 | 265 | |||||||||||
| Viread – Europe | 76 | 81 | 147 | 157 | |||||||||||
| Viread – Other International | 83 | 64 | 155 | 137 | |||||||||||
| 300 | 287 | 560 | 559 | ||||||||||||
| Stribild – U.S. | 225 | 326 | 451 | 702 | |||||||||||
| Stribild – Europe | 54 | 84 | 121 | 165 | |||||||||||
| Stribild – Other International | 14 | 19 | 30 | 39 | |||||||||||
| 293 | 429 | 602 | 906 | ||||||||||||
| Descovy – U.S. | 232 | 49 | 441 | 49 | |||||||||||
| Descovy – Europe | 47 | 12 | 84 | 12 | |||||||||||
| Descovy – Other International | 7 | — | 12 | — | |||||||||||
| 286 | 61 | 537 | 61 | ||||||||||||
| Odefsey – U.S. | 230 | 58 | 433 | 69 | |||||||||||
| Odefsey – Europe | 27 | — | 50 | — | |||||||||||
| Odefsey – Other International | 1 | — | 2 | — | |||||||||||
| 258 | 58 | 485 | 69 | ||||||||||||
| Complera / Eviplera – U.S. | 112 | 199 | 224 | 421 | |||||||||||
| Complera / Eviplera – Europe | 127 | 156 | 252 | 302 | |||||||||||
| Complera / Eviplera – Other International | 15 | 13 | 31 | 26 | |||||||||||
| 254 | 368 | 507 | 749 | ||||||||||||
GILEAD SCIENCES, INC. PRODUCT SALES SUMMARY - (Continued) (unaudited) (in millions) | |||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||
| June 30, | June 30, | ||||||||||||||
| 2017 | 2016 | 2017 | 2016 | ||||||||||||
| Other Antiviral – U.S. | $ | 28 | $ | 12 | $ | 53 | $ | 22 | |||||||
| Other Antiviral – Europe | 6 | 7 | 10 | 13 | |||||||||||
| Other Antiviral – Other International | 2 | 1 | 3 | 2 | |||||||||||
| 36 | 20 | 66 | 37 | ||||||||||||
| Total antiviral products – U.S. | 4,488 | 4,477 | 8,517 | 8,477 | |||||||||||
| Total antiviral products – Europe | 1,323 | 1,530 | 2,507 | 3,084 | |||||||||||
| Total antiviral products – Other International | 628 | 1,119 | 1,256 | 2,748 | |||||||||||
| 6,439 | 7,126 | 12,280 | 14,309 | ||||||||||||
| Other products: | |||||||||||||||
| Letairis | 230 | 203 | 441 | 378 | |||||||||||
| Ranexa | 200 | 153 | 353 | 297 | |||||||||||
| AmBisome | 92 | 85 | 184 | 171 | |||||||||||
| Zydelig | 35 | 41 | 70 | 90 | |||||||||||
| Other | 50 | 43 | 95 | 87 | |||||||||||
| 607 | 525 | 1,143 | 1,023 | ||||||||||||
| Total product sales | $ | 7,046 | $ | 7,651 | $ | 13,423 | $ | 15,332 | |||||||
View source version on businesswire.com: http://www.businesswire.com/news/home/20170726006124/en/
Source:
Gilead Sciences, Inc.InvestorsRobin Washington, 650-522-5688Sung Lee, 650-524-7792orMediaAmy Flood, 650-522-5643
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