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.

This is a STAT Plus article and you can unlock it by subscribing to STAT Plus today. It's easy! Your first 30 days are free and if you don't enjoy your subscription you can cancel any time.
Already a subscriber? Log in here.

Leave a Reply to Jim Rogers Cancel reply

Please enter your name.
Please enter a comment.

Sign up for our Morning Rounds newsletter

Your daily dose of news in health and medicine.