Gilead Sciences reports double-digit 2011 growth

Gilead Sciences has announced a ten percent year-on-year growth in annual product sales during 2011.

The company's sales revenues for the year came to $8.1 billion (5.12 billion pounds), with the fourth quarter contributing $2.13 billion of this total, while strong earnings and cash flow performance were also noted.

During the final three months of 2011, growth in product sales was attributed primarily to the success of Gilead's antiviral franchise, which includes blockbuster therapies including Atripla and Truvada.

Other recent corporate highlights include the company's successful acquisition of Pharmasset, which was completed last month, as well as new alliances with Boehringer Ingelheim, Bristol-Myers Squibb and GlobeImmune.

The company also pledged in December to donate 445,000 vials of AmBisome over five years to aid World Health Organization efforts to combat visceral leishmaniasis.

Last month, Gilead strengthened its leadership team with the appointment of Dr Roy Baynes as its new senior vice-president for oncology therapeutics.