Dallas, Texas 03/11/2014 (FINANCIALSTRENDS) – Gilead Sciences, Inc.(NASDAQ:GILD) holds rights over the drug Sovaldi, which is known to be an effective Hepatitis C drug. The success of this drug has resulted in the company reporting high revenue earnings, in recent times.
Recent US statistics on Hepatitis C, by the government indicate that the number of Hepatitis C Virus infected patients is in the region of 2 million. HCV as it is commonly called is a liver disease which is transmitted by method of blood-to-blood contact.
Sovaldi to reap rewards
Gilead Sciences, Inc.(NASDAQ:GILD) is expected to make good of the approval of its HCV treatment drug Sovaldi. The
FDA had approved this drug in December 2013. This drug has higher efficacy, besides no instances of side effects. The 90 percent success rate as well as the faster-paced treatment paced just over 12 to 24 weeks is way shorter that the nearly 52 weeks or one-year treatment.
The downside of Sovaldi is its affordability. This drug is currently priced at $84,000 for a 12-week treatment. The high prices have definitely led to large-scale complaints by both patients and insurance providers. This is because they find it nearly impossible to afford. However, the very high efficacy of the drug has been its selling point and within the first three weeks of its launch in the market the company reported $139.4 million. By the end of the year, the company is expected to loot over $ billion. The overall revenue for this product by 2015, is reportedly $8.1 billion.
Gilead Sciences, Inc.(NASDAQ:GILD) continues to hold predominant position in the market scene as one of the leading producers and makers of HIV medicines.
Gilead Sciences is headquartered in Foster City, CA and holds an infra-day stock-price of $78.35 to $80.30. The 52week stock price high for the drug maker is $84.88. The least 52 week stock price is $43.78.