Gilead Sciences, Inc. (GILD) increased to $68.46, seeing a rise of +4 percent on Friday. In the fourth quarter, GILD announced revenue of $1.9 billion for its Covid-19 treatment. An increasing 2021 financial year and high Remdesivir revenues are anticipated by the company. With this antiviral drug used to regulate Covid-19, sales for the fourth quarter of 2020 soared by 26 percent. On the other hand, sales of other drugs, including hepatitis C and HIV, are being weighed down by the health crisis. It is also Remdesivir (sold under the label Veklury) that, against a consensus of $1.34 billion, supports sales with a result of $1.9 billion in the fourth quarter alone. Quarterly sales would have dropped by 7 percent excluding this drug. Remdesivir, the company states, remains a vital weapon in the fight against the pandemic and expects blockbuster sales of up to $3 billion in 2021.
At a bit rise of +0.03% to $498.98, Regeneron Pharmaceuticals, Inc. (REGN) was stable in the weekend session. The U.S. biotech company of Tarrytown posted fourth-quarter earnings well above analyst estimates, as well as “Online” sales. Quarterly net earnings were $1.15 billion or $10.24 per share, compared to $792 million and $6.93 per share a year ago, boosted by high demand for the success of Eylea and Dupixent, its flagship drug. With the easing of certain health limits, sales of Eylea, a drug for age-related macular degeneration (AMD), have resumed.
On an adjustment basis, Regeneron posted a quarterly $9.53 EPS, relative to a consensus of $8.39. Revenues, in line with forecasts, rose 30 percent to $2.42 billion. Furthermore, in November, the laboratory’s REGEN-COV antibody cocktail against Covid-19 obtained FDA emergency use clearance. In January, the organization reached a second deal to offer an extra 1.25 million doses of medication to the U.S. government. The company plans to continue its covid work in 2021 and to diversify its development with Eylea, Dupixent, but also with new oncology releases for Libtayo.
