[April 22, 2014] |
|
Gilead Sciences Announces First Quarter 2014 Financial Results
FOSTER CITY, Calif. --(Business Wire)--
Gilead Sciences, Inc. (Nasdaq: GILD) announced today its results of
operations for the quarter ended March 31, 2014. Total revenues for the
first quarter of 2014 increased to $5.00 billion from $2.53 billion for
the first quarter of 2013. Product sales increased to $4.87 billion for
the first quarter of 2014 compared to $2.39 billion for the first
quarter of 2013. Net income for the first quarter of 2014 was $2.23
billion, or $1.33 per diluted share compared to $722.2 million, or $0.43
per diluted share for the first quarter of 2013. Non-GAAP net income for
the first quarter of 2014, which excludes acquisition-related,
restructuring and stock-based compensation expenses, was $2.49 billion,
or $1.48 per diluted share compared to $801.9 million, or $0.48 per
diluted share for the first quarter of 2013.
|
|
|
|
|
Three Months Ended
|
|
|
March 31,
|
(In thousands, except per share amounts)
|
|
2014
|
|
2013
|
Product sales
|
|
$
|
|
4,870,974
|
|
|
$
|
|
2,393,568
|
Royalty, contract and other revenues
|
|
127,982
|
|
|
138,067
|
Total revenues
|
|
$
|
|
4,998,956
|
|
|
$
|
|
2,531,635
|
|
|
|
|
|
Net income attributable to Gilead
|
|
$
|
|
2,227,410
|
|
|
$
|
|
722,186
|
Non-GAAP net income attributable to Gilead
|
|
$
|
|
2,487,809
|
|
|
$
|
|
801,943
|
|
|
|
|
|
Diluted EPS
|
|
$
|
|
1.33
|
|
|
$
|
|
0.43
|
Non-GAAP diluted EPS
|
|
$
|
|
1.48
|
|
|
$
|
|
0.48
|
|
|
|
|
|
|
|
|
|
|
Product Sales
Compared to the first quarter of 2013, U.S. product sales for the first
quarter of 2014 increased to $3.63 billion from $1.40 billion and Europe
product sales increased to $1.02 billion from $818.3 million.
Antiviral Product Sales
Antiviral product sales increased to $4.51 billion for the first quarter
of 2014, up from $2.06 billion for the first quarter of 2013 largely due
to sales of Sovaldi® (sofosbuvir 400 mg), which launched in
December 2013, and increases in sales of Stribild® (elvitegravir
150 mg/cobicistat 150 mg/emtricitabine 200 mg/tenofovir disoproxil
fumarate 300 mg) and Complera/Eviplera® (emtricitabine
200 mg/rilpivirine 25 mg/tenofovir disoproxil fumarate 300 mg). This
increase was partially offset by a decrease in wholesaler and
sub-wholesaler inventories in the United States associated primarily
with our HIV products, which also impacted antiviral product sales in
the first quarter of 2014 compared to the fourth quarter of 2013.
|
|
|
|
|
|
|
Three Months Ended
|
|
|
|
|
March 31,
|
|
|
(In thousands, except percentages)
|
|
2014
|
|
2013
|
|
% Change
|
Antiviral product sales
|
|
$
|
|
4,508,497
|
|
|
$
|
|
2,061,078
|
|
|
119
|
|
%
|
Sovaldi
|
|
2,274,349
|
|
|
-
|
|
|
-
|
|
%
|
Atripla
|
|
779,594
|
|
|
877,073
|
|
|
(11
|
)
|
%
|
Truvada
|
|
759,700
|
|
|
700,242
|
|
|
8
|
|
%
|
Complera/Eviplera
|
|
250,733
|
|
|
148,189
|
|
|
69
|
|
%
|
Stribild
|
|
215,271
|
|
|
92,148
|
|
|
134
|
|
%
|
Viread
|
|
210,625
|
|
|
210,332
|
|
|
-
|
|
%
|
|
|
|
|
|
|
|
|
|
|
|
Cardiovascular Product Sales
Cardiovascular product sales increased to $234.5 million for the first
quarter of 2014, up from $214.4 million for the first quarter of 2013
primarily driven by strong Ranexa® (ranolazine) sales.
|
|
|
|
|
|
|
Three Months Ended
|
|
|
|
|
March 31,
|
|
|
(In thousands, except percentages)
|
|
2014
|
|
2013
|
|
% Change
|
Cardiovascular product sales
|
|
$
|
234,503
|
|
|
$
|
214,393
|
|
|
9
|
%
|
Letairis
|
|
122,885
|
|
|
118,107
|
|
|
4
|
%
|
Ranexa
|
|
111,618
|
|
|
96,286
|
|
|
16
|
%
|
|
|
|
|
|
|
|
|
|
|
Operating Expenses and Other
During the first quarter of 2014, compared to the same period in 2013:
-
Non-GAAP research and development (R&D) expenses increased due to the
progression of Gilead's clinical studies, particularly in oncology and
HIV.
-
Non-GAAP selling, general and administrative (SG&A) expenses increased
to support the expansion of Gilead's business, particularly in
hepatitis C virus (HCV) and in preparation for the anticipated launch
of idelalisib.
|
|
|
|
|
Three Months Ended
|
|
|
March 31,
|
(In thousands)
|
|
2014
|
|
2013
|
Non-GAAP research and development expenses
|
|
$
|
557,805
|
|
|
$
|
459,976
|
Non-GAAP selling, general and administrative expenses
|
|
$
|
500,105
|
|
|
$
|
333,064
|
Note: Non-GAAP R&D and SG&A expenses exclude the impact of
acquisition-related, restructuring and stock-based compensation expenses.
Cash, Cash Equivalents and Marketable Securities
As of March 31, 2014, Gilead had $6.86 billion of cash, cash equivalents
and marketable securities compared to $2.57 billion as of December 31,
2013. This increase was primarily due to the issuance of senior
unsecured notes in March 2014 for a total aggregate principal amount of
$4.00 billion. These proceeds will be for general corporate purposes,
which may include the repayment of debt and related payments, working
capital and the repurchase of outstanding common stock under the
authorized share repurchase program. During the first three months of
2013, Gilead generated $1.57 billion in operating cash flow.
Full Year 2014 Guidance
Gilead reiterates its full year 2014 guidance, initially provided on
February 4, 2014, which excludes the impact of Sovaldi product sales:
|
|
|
(In millions, except percentages and per share amounts)
|
|
Provided
February 4, 2014
|
Net Product Sales
|
|
$11,300 - $11,500
|
Non-GAAP*
|
|
|
Product Gross Margin
|
|
75% - 77%
|
R&D
|
|
$2,200 - $2,300
|
SG&A
|
|
$2,100 - $2,200
|
Effective Tax Rate
|
|
28% - 29%
|
|
|
|
Diluted EPS Impact of Acquisition-Related, Restructuring and
Stock-Based Compensation Expenses
|
|
$0.63 - $0.66
|
* Non-GAAP product gross margin, expenses and effective tax rate
exclude the impact of acquisition-related, restructuring and stock-based
compensation expenses, where applicable.
Product & Pipeline Updates Announced by Gilead
During the First Quarter of 2014 Include:
Antiviral Program
-
The European Commission granted marketing authorization for Sovaldi in
combination with other antiviral agents ribavirin and pegylated
interferon alpha in all 28 countries of the European Union.
-
Submitted a New Drug Application (NDA) to the U.S. Food and Drug
Administration (FDA) for a once-daily fixed-dose combination of the
NS5A inhibitor ledipasvir (LDV) 90 mg and the nucleotide analog
polymerase inhibitor sofosbuvir (SOF) 400 mg for the treatment of
chronic hepatitis C genotype 1 infection in adults for eight or 12
weeks, depending on prior treatment history and whether they have
cirrhosis. The FDA has assigned LDV/SOF a Breakthrough Therapy
designation, which is granted to investigational medicines that may
offer major advances in treatment over existing options. The FDA has
set a target review date under the Prescription Drug User Fee Act
(PDUFA) of October 10, 2014.
-
Announced that the company's Marketing Authorisation Application for
LDV/SOF has been fully validated and is now under assessment by the
European Medicines Agency. The application was submitted on February
27, 2014.
Oncology Program
-
Announced FDA acceptance for review of the company's NDA for
idelalisib, a targeted, oral inhibitor of PI3K delta, for the
treatment of relapsed chronic lymphocytic leukemia with priority
review and a target review date under PDUFA of August 6, 2014 and for
the treatment of refractory indolent non-Hodgkin's lymphoma with a
standard review and a target review date under PDUFA of September 11,
2014.
Conference Call
At 4:15 p.m. Eastern Time today, Gilead's management will host a
conference call and a simultaneous webcast to discuss results from its
first quarter 2014 as well as provide a general business update. To
access the webcast live via the internet, please connect to the
company's website at www.gilead.com
15 minutes prior to the conference call to ensure adequate time for any
software download that may be needed to hear the webcast. Alternatively,
please call 1-844-795-1482 (U.S.) or 1-931-229-4695 (international) and
dial the conference ID 17493454 to access the call.
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 April 24, 2014. To access the phone replay,
please call 1-855-859-2056 (U.S.) or 1-404-537-3406 (international) and
dial the conference ID 17493454.
About Gilead
Gilead Sciences is a biopharmaceutical company that discovers, develops
and commercializes innovative therapeutics in areas of unmet medical
need. The company's mission is to transform and simplify care for people
with life-threatening illnesses around the word. Headquartered in Foster
City, California, Gilead has operations in North and South America,
Europe and Asia-Pacific.
Non-GAAP Financial Information
Gilead has presented certain financial information in accordance with
U.S. generally accepted accounting principles (GAAP) and also on a
non-GAAP basis. Management believes this non-GAAP information is useful
for investors, when considered in conjunction with Gilead's GAAP
financial statements, 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. A reconciliation
between GAAP and non-GAAP financial information is provided in the table
on pages 7 and 8.
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 2014 financial results; Gilead's ability to
sustain growth in revenues for its antiviral, cardiovascular and
respiratory programs; availability of funding for state AIDS Drug
Assistance Programs (ADAPs); continued fluctuations in ADAP purchases
driven by federal and state grant cycles which may not mirror patient
demand and may cause fluctuations in Gilead's earnings; the possibility
of unfavorable results from clinical trials involving sofosbuvir,
including in combination with other product candidates such as LDV; the
levels of inventory held by wholesalers and retailers which may cause
fluctuations in Gilead's earnings; Gilead's ability to submit NDAs for
new product candidates in the timelines currently anticipated; Gilead's
ability to receive regulatory approvals in a timely manner or at all,
for new and current products, including the fixed-dose combination of
LDV/SOF and idelalisib; Gilead's ability to successfully commercialize
its products, including Sovaldi, Stribild, Vitekta and Tybost; the risk
that estimates of patients with HCV or anticipated patient demand may
not be accurate; Gilead's ability to successfully develop its
respiratory, cardiovascular and oncology/inflammation programs; safety
and efficacy data from clinical studies may not warrant further
development of Gilead's product candidates; the potential for additional
austerity measures in European countries that may increase the amount of
discount required on Gilead's products; fluctuations in the foreign
exchange rate of the U.S. dollar that may cause an unfavorable foreign
currency exchange impact on Gilead's future revenues and pre-tax
earnings; and other risks identified from time to time in Gilead's
reports filed with the U.S. Securities and Exchange Commission (SEC). In
addition, Gilead makes estimates and judgments that affect the reported
amounts of assets, liabilities, revenues and expenses and related
disclosures. Gilead bases its estimates on historical experience and on
various other market specific and other relevant assumptions that it
believes to be reasonable under the circumstances, the results of which
form the basis for making judgments about the carrying values of assets
and liabilities that are not readily apparent from other sources. Actual
results may differ significantly from these estimates. You are urged to
consider statements that include the words may, will, would, could,
should, might, believes, estimates, projects, potential, expects, plans,
anticipates, intends, continues, forecast, designed, goal, or the
negative of those words or other comparable words to be uncertain and
forward-looking. Gilead directs readers to its press releases, Annual
Report on Form 10-K for the year ended December 31, 2013 and other
subsequent disclosure documents filed with the SEC. Gilead claims the
protection of the Safe Harbor contained in the Private Securities
Litigation Reform Act of 1995 for forward-looking statements. 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®,
GILEAD SCIENCES®, SOVALDI®, STRIBILD®,
COMPLERA®, EVIPLERA®, TRUVADA®, VIREAD®,
EMTRIVA®, TYBOST®, HEPSERA®, VITEKTA®,
LETAIRIS®, RANEXA®, CAYSTON®, AMBISOME®,
VISTIDE®, VOLIBRIS®, and RAPISCAN®.
ATRIPLA® is a registered trademark belonging to Bristol-Myers
Squibb & Gilead Sciences, LLC. LEXISCAN® is a
registered trademark belonging to Astellas U.S. LLC. MACUGEN®
is a registered trademark belonging to Eyetech, Inc. SUSTIVA®
is a registered trademark of Bristol-Myers Squibb Pharma Company. TAMIFLU®
is a registered trademark belonging to Hoffmann-La Roche Inc.
For more information on Gilead Sciences, Inc., please visit www.gilead.com
or call the Gilead Public Affairs Department at 1-800-GILEAD-5
(1-800-445-3235).
|
GILEAD SCIENCES, INC.
CONSOLIDATED STATEMENTS OF INCOME
(unaudited)
(in thousands, except per share amounts)
|
|
|
|
|
|
Three Months Ended
|
|
|
March 31,
|
|
|
2014
|
|
2013
|
Revenues:
|
|
|
|
|
Product sales
|
|
$
|
4,870,974
|
|
|
$
|
2,393,568
|
|
Royalty, contract and other revenues
|
|
127,982
|
|
|
138,067
|
|
Total revenues
|
|
4,998,956
|
|
|
2,531,635
|
|
Costs and expenses:
|
|
|
|
|
Cost of goods sold
|
|
813,205
|
|
|
634,448
|
|
Research and development
|
|
594,978
|
|
|
497,632
|
|
Selling, general and administrative
|
|
548,123
|
|
|
374,296
|
|
Total costs and expenses
|
|
1,956,306
|
|
|
1,506,376
|
|
Income from operations
|
|
3,042,650
|
|
|
1,025,259
|
|
Interest expense
|
|
(76,269
|
)
|
|
(81,787
|
)
|
Other income (expense), net
|
|
(17,912
|
)
|
|
(3,324
|
)
|
Income before provision for income taxes
|
|
2,948,469
|
|
|
940,148
|
|
Provision for income taxes
|
|
725,882
|
|
|
222,438
|
|
Net income
|
|
2,222,587
|
|
|
717,710
|
|
Net loss attributable to noncontrolling interest
|
|
4,823
|
|
|
4,476
|
|
Net income attributable to Gilead
|
|
$
|
2,227,410
|
|
|
$
|
722,186
|
|
Net income per share attributable to Gilead common stockholders -
basic
|
|
$
|
1.45
|
|
|
$
|
0.47
|
|
Net income per share attributable to Gilead common stockholders -
diluted
|
|
$
|
1.33
|
|
|
$
|
0.43
|
|
Shares used in per share calculation - basic
|
|
1,536,525
|
|
|
1,521,372
|
|
Shares used in per share calculation - diluted
|
|
1,679,871
|
|
|
1,665,060
|
|
|
|
|
|
|
|
|
GILEAD SCIENCES, INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION
(unaudited)
(in thousands, except percentages and per share amounts)
|
|
|
|
|
|
Three Months Ended
|
|
|
March 31,
|
|
|
2014
|
|
2013
|
Cost of goods sold reconciliation:
|
|
|
|
|
GAAP cost of goods sold
|
|
$
|
813,205
|
|
|
$
|
634,448
|
|
Stock-based compensation expenses
|
|
(2,642
|
)
|
|
(1,841
|
)
|
Acquisition related-amortization of purchased intangibles
|
|
(199,230
|
)
|
|
(21,264
|
)
|
Non-GAAP cost of goods sold
|
|
$
|
611,333
|
|
|
$
|
611,343
|
|
|
|
|
|
|
Product gross margin reconciliation:
|
|
|
|
|
GAAP product gross margin
|
|
83.3
|
%
|
|
73.5
|
%
|
Stock-based compensation expenses
|
|
0.1
|
%
|
|
0.1
|
%
|
Acquisition related-amortization of purchased intangibles
|
|
4.1
|
%
|
|
0.9
|
%
|
Non-GAAP product gross margin(1)
|
|
87.4
|
%
|
|
74.5
|
%
|
|
|
|
|
|
Research and development expenses reconciliation:
|
|
|
|
|
GAAP research and development expenses
|
|
$
|
594,978
|
|
|
$
|
497,632
|
|
Stock-based compensation expenses
|
|
(34,350
|
)
|
|
(26,875
|
)
|
Restructuring expenses
|
|
(145
|
)
|
|
(4,757
|
)
|
Acquisition related-contingent consideration remeasurement
|
|
(2,678
|
)
|
|
(6,024
|
)
|
Non-GAAP research and development expenses
|
|
$
|
557,805
|
|
|
$
|
459,976
|
|
|
|
|
|
|
Selling, general and administrative expenses reconciliation:
|
|
|
|
|
GAAP selling, general and administrative expenses
|
|
$
|
548,123
|
|
|
$
|
374,296
|
|
Stock-based compensation expenses
|
|
(45,233
|
)
|
|
(33,051
|
)
|
Restructuring expenses
|
|
(3
|
)
|
|
(744
|
)
|
Acquisition related-transaction costs
|
|
(448
|
)
|
|
(7,156
|
)
|
Acquisition related-amortization of purchased intangibles
|
|
(2,334
|
)
|
|
(281
|
)
|
Non-GAAP selling, general and administrative expenses
|
|
$
|
500,105
|
|
|
$
|
333,064
|
|
|
|
|
|
|
Operating margin reconciliation:
|
|
|
|
|
GAAP operating margin
|
|
60.9
|
%
|
|
40.5
|
%
|
Stock-based compensation expenses
|
|
1.6
|
%
|
|
2.4
|
%
|
Restructuring expenses
|
|
0.0
|
%
|
|
0.2
|
%
|
Acquisition related-transaction costs
|
|
0.0
|
%
|
|
0.3
|
%
|
Acquisition related-amortization of purchased intangibles
|
|
4.0
|
%
|
|
0.9
|
%
|
Acquisition related-contingent consideration remeasurement
|
|
0.1
|
%
|
|
0.2
|
%
|
Non-GAAP operating margin(1)
|
|
66.6
|
%
|
|
44.5
|
%
|
|
|
|
|
|
Other income (expense) reconciliation:
|
|
|
|
|
GAAP other income (expense), net
|
|
$
|
(17,912
|
)
|
|
$
|
(3,324
|
)
|
Acquisition related-transaction costs
|
|
(1,853
|
)
|
|
-
|
|
Non-GAAP other income (expense), net
|
|
$
|
(19,765
|
)
|
|
$
|
(3,324
|
)
|
|
|
|
|
|
|
|
|
|
GILEAD SCIENCES, INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION -
(Continued)
(unaudited)
(in thousands, except percentages and per share amounts)
|
|
|
|
|
|
Three Months Ended
|
|
|
March 31,
|
|
|
2014
|
|
2013
|
Effective tax rate reconciliation:
|
|
|
|
|
GAAP effective tax rate
|
|
24.6
|
%
|
|
23.7
|
%
|
Restructuring expenses
|
|
-
|
%
|
|
(0.1
|
)%
|
Acquisition related-amortization of purchased intangibles
|
|
(1.4
|
)%
|
|
-
|
%
|
Acquisition related-contingent consideration remeasurement
|
|
-
|
%
|
|
(0.1
|
)%
|
Non-GAAP effective tax rate(1)
|
|
23.2
|
%
|
|
23.5
|
%
|
|
|
|
|
|
Net income attributable to Gilead reconciliation:
|
|
|
|
|
GAAP net income attributable to Gilead, net of tax
|
|
$
|
2,227,410
|
|
|
$
|
722,186
|
|
Stock-based compensation expenses
|
|
63,136
|
|
|
45,380
|
|
Restructuring expenses
|
|
148
|
|
|
5,368
|
|
Acquisition related-transaction costs
|
|
(975
|
)
|
|
7,156
|
|
Acquisition related-amortization of purchased intangibles
|
|
195,412
|
|
|
15,829
|
|
Acquisition related-contingent consideration remeasurement
|
|
2,678
|
|
|
6,024
|
|
Non-GAAP net income attributable to Gilead, net of tax
|
|
$
|
2,487,809
|
|
|
$
|
801,943
|
|
|
|
|
|
|
Diluted earnings per share reconciliation:
|
|
|
|
|
GAAP diluted earnings per share
|
|
$
|
1.33
|
|
|
$
|
0.43
|
|
Stock-based compensation expenses
|
|
0.04
|
|
|
0.03
|
|
Restructuring expenses
|
|
0.00
|
|
|
0.00
|
|
Acquisition related-transaction costs
|
|
(0.00
|
)
|
|
0.00
|
|
Acquisition related-amortization of purchased intangibles
|
|
0.12
|
|
|
0.01
|
|
Acquisition related-contingent consideration remeasurement
|
|
0.00
|
|
|
0.00
|
|
Non-GAAP diluted earnings per share(1)
|
|
$
|
1.48
|
|
|
$
|
0.48
|
|
|
|
|
|
|
Shares used in per share calculation (diluted) reconciliation:
|
|
|
|
|
GAAP shares used in per share calculation (diluted)
|
|
1,679,871
|
|
|
1,665,060
|
|
Share impact of current stock-based compensation rules
|
|
(911
|
)
|
|
(1,716
|
)
|
Non-GAAP shares used in per share calculation (diluted)
|
|
1,678,960
|
|
|
1,663,344
|
|
|
|
|
|
|
Non-GAAP adjustment summary:
|
|
|
|
|
Cost of goods sold adjustments
|
|
$
|
201,872
|
|
|
$
|
23,105
|
|
Research and development expenses adjustments
|
|
37,173
|
|
|
37,656
|
|
Selling, general and administrative expenses adjustments
|
|
48,018
|
|
|
41,232
|
|
Other income (expense) adjustments
|
|
(1,853
|
)
|
|
-
|
|
Total non-GAAP adjustments before tax
|
|
285,210
|
|
|
101,993
|
|
Income tax effect
|
|
(24,811
|
)
|
|
(22,236
|
)
|
Total non-GAAP adjustments after tax
|
|
$
|
260,399
|
|
|
$
|
79,757
|
|
|
|
|
|
|
(1) Amounts may not sum due to rounding.
|
|
|
|
|
|
|
|
|
|
GILEAD SCIENCES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
|
|
|
|
|
|
|
|
March 31,
|
|
December 31,
|
|
|
2014
|
|
2013(1)
|
|
|
(unaudited)
|
|
|
Cash, cash equivalents and marketable securities
|
|
$
|
6,858,901
|
|
|
$
|
2,570,590
|
|
Accounts receivable, net
|
|
3,236,195
|
|
|
2,100,286
|
|
Inventories
|
|
2,140,228
|
|
|
2,055,788
|
|
Property, plant and equipment, net
|
|
1,303,029
|
|
|
1,166,181
|
|
Intangible assets, net
|
|
11,707,830
|
|
|
11,900,106
|
|
Goodwill
|
|
1,171,561
|
|
|
1,169,023
|
|
Other assets
|
|
1,659,948
|
|
|
1,534,811
|
|
Total assets
|
|
$
|
28,077,692
|
|
|
$
|
22,496,785
|
|
|
|
|
|
|
Current liabilities
|
|
$
|
5,914,776
|
|
|
$
|
6,325,421
|
|
Long-term liabilities
|
|
8,414,955
|
|
|
4,363,032
|
|
Equity component of currently redeemable convertible notes
|
|
45,767
|
|
|
63,831
|
|
Stockholders' equity(2)
|
|
13,702,194
|
|
|
11,744,501
|
|
Total liabilities and stockholders' equity
|
|
$
|
28,077,692
|
|
|
$
|
22,496,785
|
|
(1) Derived from the audited consolidated financial
statements as of December 31, 2013.
|
(2) As of March 31, 2014, there were 1,537,642 shares of
common stock issued and outstanding.
|
|
GILEAD SCIENCES, INC.
PRODUCT SALES SUMMARY
(unaudited)
(in thousands)
|
|
|
|
|
|
Three Months Ended
|
|
|
March 31,
|
|
|
2014
|
|
2013
|
Antiviral products:
|
|
|
|
|
Sovaldi - U.S.
|
|
$
|
2,097,791
|
|
|
$
|
-
|
Sovaldi - Europe
|
|
163,691
|
|
|
-
|
Sovaldi - Other International
|
|
12,867
|
|
|
-
|
|
|
2,274,349
|
|
|
-
|
|
|
|
|
|
Atripla - U.S.
|
|
489,929
|
|
|
553,826
|
Atripla - Europe
|
|
236,508
|
|
|
278,215
|
Atripla - Other International
|
|
53,157
|
|
|
45,032
|
|
|
779,594
|
|
|
877,073
|
|
|
|
|
|
Truvada - U.S.
|
|
367,782
|
|
|
307,861
|
Truvada - Europe
|
|
323,186
|
|
|
332,027
|
Truvada - Other International
|
|
68,732
|
|
|
60,354
|
|
|
759,700
|
|
|
700,242
|
|
|
|
|
|
Complera / Eviplera - U.S.
|
|
130,426
|
|
|
103,297
|
Complera / Eviplera - Europe
|
|
108,994
|
|
|
38,962
|
Complera / Eviplera - Other International
|
|
11,313
|
|
|
5,930
|
|
|
250,733
|
|
|
148,189
|
|
|
|
|
|
Stribild - U.S.
|
|
187,090
|
|
|
91,978
|
Stribild - Europe
|
|
23,630
|
|
|
-
|
Stribild - Other International
|
|
4,551
|
|
|
170
|
|
|
215,271
|
|
|
92,148
|
|
|
|
|
|
Viread - U.S.
|
|
81,053
|
|
|
82,628
|
Viread - Europe
|
|
84,065
|
|
|
88,206
|
Viread - Other International
|
|
45,507
|
|
|
39,498
|
|
|
210,625
|
|
|
210,332
|
|
|
|
|
|
Hepsera - U.S.
|
|
2,230
|
|
|
12,950
|
Hepsera - Europe
|
|
7,718
|
|
|
11,223
|
Hepsera - Other International
|
|
1,775
|
|
|
2,250
|
|
|
11,723
|
|
|
26,423
|
|
|
|
|
|
Emtriva - U.S.
|
|
4,817
|
|
|
4,529
|
Emtriva - Europe
|
|
1,560
|
|
|
1,751
|
Emtriva - Other International
|
|
125
|
|
|
391
|
|
|
6,502
|
|
|
6,671
|
|
|
|
|
|
Total antiviral products - U.S.
|
|
3,361,118
|
|
|
1,157,069
|
Total antiviral products - Europe
|
|
949,352
|
|
|
750,384
|
Total antiviral products - Other International
|
|
198,027
|
|
|
153,625
|
|
|
4,508,497
|
|
|
2,061,078
|
|
|
|
|
|
Letairis
|
|
122,885
|
|
|
118,107
|
Ranexa
|
|
111,618
|
|
|
96,286
|
AmBisome
|
|
92,093
|
|
|
85,275
|
Other products
|
|
35,881
|
|
|
32,822
|
|
|
362,477
|
|
|
332,490
|
|
|
|
|
|
Total product sales
|
|
$
|
4,870,974
|
|
|
$
|
2,393,568
|
[ Back To TMCnet.com's Homepage ]
|