Gilead achieves record product sales

Gilead achieved record product sales for the first quarter of 2009.

The company saw products generate $1.45 billion (995 million pounds) for the first three months of the year ? a 27 per cent increase from the same period in 2008.

Its antiviral franchise saw a growth of 28 per cent, totalling $1.34 billion. The firm asserted this increase was primarily due its Atripla and Truvada products.

The former ? a drug to treat adults with HIV-1 infection ? raised $509.9 million, compared to $324.2 million the year before. This was an increase of 57 per cent thanks primarily to sales volume growth in Europe and the US.

Another HIV-1 medication ? Truvada ? saw sales grow by 23 per cent to $590.4 million, compared to $479.4 million in 2008.

The company is currently working to expand its pipeline, with products such as Elvitegravir being evaluated in clinical trials for its effectiveness to treat HIV patients.

Earlier this month, Gilead announced the completion of its acquisition of CV Therapeutics.

Subject to appraisal rights, any outstanding shares of the latter will be converted into the right to receive $20 in cash.