Gilead’s latest financial report: Remdesivir’s Q2 revenue exceeds US$800 million, and CAR-T therapy has increased significantly

August 01, 2021

On July 29, local time, Gilead Sciences (GILD.US) released its financial report for the second quarter ending June 30, 2021. The financial report shows that Gilead’s Q2 total revenue was US$6.217 billion, an increase of 21% year-on-year; net profit was US$1.522 billion, and a loss of US$3.339 billion in the same period last year; diluted earnings per share was US$1.21, and a loss per share of US$2.66 in the same period last year. The financial report shows that the main reason for revenue growth is the increase in demand for Veklury, Biktarv and hepatitis C virus (HCV) products.

In terms of products, Gilead’s AIDS (HIV) product sales were US$3.938 billion, a year-on-year decrease of 2%; the chronic hepatitis C virus (HCV) product sales were US$549 million, a year-on-year increase of 23%; hepatitis B virus and type D Hepatitis virus (HBV/HDV) product sales were 237 million U.S. dollars, an increase of 8% year-on-year; Trodelvy sales were 89 million U.S. dollars. Veklury's sales were US$829 million; sales of other products were US$291 million, a year-on-year increase of 20%.

Compared with the same period in 2020, sales of cell therapy products in the second quarter of 2021 increased by 39% to US$219 million. Yescarta’s sales increased to US$178 million in the second quarter of 2021, reflecting its continued use in the United States for relapsed or refractory inert follicles after it was approved by the U.S. Food and Drug Administration (FDA) in the first quarter of 2021. Lymphoma (FL), and continue to expand the market in Europe. Due to the introduction of mantle cell lymphoma products in the United States and Europe, Tecartus’s sales in the second quarter of 2021 were $41 million.

Gilead Sciences has raised its 2021 full-year performance guidance. It is expected that product sales for 2021 will be between US$24.4 billion and US$25 billion, compared with US$23.7 billion to US$25.1 billion previously. The company said it reflects the steady performance in the first half of this year. And the latest expectations for the second half of 2021. The company has also updated other performance guidelines. It is expected that the product sales (excluding Veklury) for the full year of 2021 will be between 21.7 billion and 21.9 billion US dollars, compared with 21.7 billion-22.1 billion US dollars; Veklury sales will be 2.7 billion to 21.9 billion US dollars. US$3.1 billion, previously US$2.0 billion to US$3 billion; earnings per share under GAAP standards were between US$4.70-5.05, and US$4.75-5.45 previously; earnings per share under non-GAAP standards were US$6.90-7.25 , Previously between 6.75-7.45 US dollars.

Reference source:

1.https://www.gilead.com/news-and-press/press-room/press-releases/2021/7/gilead-sciences-announces-second-quarter-2021-financial-results
2.https://investors.gilead.com/static-files/a67bf84b-ece1-480b-bedf-665c6e4c57a9

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