Skip to Main Content

Gilead Sciences’ (GILD) hepatitis C business is still shrinking and executives don’t seem to know (or won’t say) when it will stabilize, sending shares lower by 4 percent Thursday night.

In what was otherwise a benign third-quarter earnings report, Gilead lowered the top end of hepatitis C sales guidance for 2017 and warned that the fourth quarter would be rough. The problem: Competition from a newly launched and less expensive hepatitis C drug marketed by Abbvie (ABBV) that is taking market share.

Unlock this article by subscribing to STAT+ and enjoy your first 30 days free!

GET STARTED

Comments are closed.