Morning Briefing
Summaries of health policy coverage from major news organizations
Gilead Reports 17 Percent Earnings Drop Due To Slow Hep C Drug Sales
The Associated Press: Gilead 1Q Profit Tumbles On Slower Hepatitis C Drug Sales
Gilead Science Inc.'s earnings tumbled more than 17 percent 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 percent to $3 billion in the quarter, with the biggest drop-off in the U.S. and Japan. (4/28)
STAT: Forced To Discount Pricey Hepatitis C Drugs, Gilead Misses Sales Target
The drugmaker Gilead Sciences has seen its fortunes buoyed by its blockbuster hepatitis C drugs in the last two years. But that cash flow is slowing down — and it’s hitting the company’s bottom line. (Robbins, 4/27)
The Wall Street Journal: Valeant: Swapping Scandal For Growing Pains
Valeant Pharmaceuticals International is getting a much-needed refresh of its leadership and strategy. But this is a gut renovation and it is going to take a while. As many as four new directors will be joining the board, as well as new CEO Joseph Papa, The Wall Street Journal reported Wednesday. A slew of holdovers will step down. With Valeant’s audited financial statements expected—finally—before the weekend, the tumult that has lately characterized the company and battered the stock price seems to be ebbing. (Grant, 4/28)
