GILD

Gilead quarterly revenue rises 17% on remdesivir sales

Credit: REUTERS/MIKE BLAKE

Oct 28 (Reuters) - Gilead Sciences Inc GILD.O reported a 17% rise in quarterly revenue on Wednesday, helped by sales of its antiviral drug remdesivir, the first and only treatment approved in the United States for patients hospitalized with COVID-19.

Remdesivir brought in $873 million in the third quarter ended Sept. 30, below analysts' estimates of $960 million, according to Refinitiv IBES data.

Remdesivir, given intravenously, won formal U.S. approval last week, but the drug has been available under an FDA emergency use authorization since May.

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(Reporting by Vishwadha Chander in Bengaluru; Editing by Shounak Dasgupta)

((Vishwadha.Chander@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 6132))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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