Gilead Sciences reports double-digit second quarter growth

Gilead Sciences has published its financial report for the second quarter of 2012, during which it experienced a double-digit year-on-year rise in revenues.

The company's revenue total for the three-month period came to $2.41 billion (1.54 billion pounds), up by 13 percent, with product sales growth driven primarily by its antiviral franchise.

Key products such as Atripla, Truvada and Complera/Eviplera all saw significantly improved demand, while the firm was also able to increase its investment in research and development during the quarter.

Other highlights from the period include the publication of positive clinical trial data for compounds such as GS-7977, with results from a number of recent HIV studies reported earlier this month.

Data from a phase III study showed that its pharmacoenhancing agent cobicistat was able to deliver comparable efficacy to ritonavir, while in a separate study the drug elvitegravir demonstrated similar performance to twice-daily raltegravir.

Both compounds are components of Gilead's innovative combination treatment Quad, which is currently being assessed for approval by US regulators.