Gilead Says Profit Increased Fivefold
From Reuters
Biotechnology company Gilead Sciences Inc. said its profit quintupled in the second quarter, driven by booming sales of the HIV drug Viread.
Foster City, Calif.-based Gilead reported net income of $100.4 million, or 46 cents a share, compared with $19.7 million, or 10 cents, a year earlier. Revenue rose 118% to $239 million.
Shares fell 56 cents to $68.23 on Nasdaq before the announcement, and rose as high as $68.55 in after-hours trading.
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