News Headlines Article

Gilead’s Q1 profit tumbles on slower hepatitis C drug sales
Modern Healthcare

Gilead Science’s earnings tumbled more than 17% in the first quarter as steeper discounts and rebates on its blockbuster hepatitis C drugs cut into sales.

The maker of Harvoni, the first once-daily, single-pill regimen for hepatitis C, said Thursday that sales of the best-selling drug fell 15% to $3 billion in the quarter, with the biggest drop-off in the U.S. and Japan.

Gilead attributed the decline to discounts given to private insurers and higher rebates for patients in government-run health plans like Medicaid.