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Home Industry News Gilead Sciences achieves record results in second quarter

Gilead Sciences achieves record results in second quarter

28th July 2011

Gilead Sciences has announced record-breaking financial results for the second quarter of 2011.

The pharmaceutical company's revenue for the quarter rose by 11 percent year on year to a benchmark total of $2.14 billion (1.3 billion pounds), while product sales surpassed the two billion dollar mark.

Growth was driven primarily by the strength of the antiviral franchise, with Atripla and Truvada both seeing double-digit revenue increases, while drugs such as Viread, Ranexa and Letairis also saw improved demand.

Other business highlights from the last quarter include the announcement of a $5 billion stock repurchase programme and the agreement of a new funding arrangement for the Gilead Sciences Research Centre in the Czech Republic.

It also appointed Dr Muzammil Mansuri as senior vice-president of its research and development strategy and corporate development.

Earlier this month, the company announced new alliances with a number of Indian pharmaceutical companies, including Ranbaxy Laboratories and Strides Arcolab, to expand access to developmental HIV drugs globally.ADNFCR-8000103-ID-800637005-ADNFCR

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