Wednesday, October 20, 2021

JPM: Gilead’s Veklury, now used in half of hospitalized U.S. COVID-19 patients, delivers multibillion-dollar revenue bump


Gilead Sciences unveiled a surprise Monday: It enjoyed a bigger-than-expected sales boost from COVID-19 therapy Veklury, better known as remdesivir.

But what changed since October, when Gilead last predicted 2020 sales? Hospitalizations are up fourfold, for one—and Veklury use is way up, too.

“One in two patients hospitalized now is treated with Veklury in the United States,” CEO Dan O’Day said during Gilead’s Monday presentation at the annual J.P. Morgan healthcare conference, noting that Veklury use in hospitalized COVID-19 patients is up from 30% in October to around 50% to 60% today.

New Planning Product Summit

Tailored Product Commercialization Strategies

Join the New Product Planning Summit to discuss tools and resources to optimize early decision-making, collaborate with cross-functional partners to guide product development, and leverage key insights to tailor a product plan to ensure the successful launch of a new product.

The result? Veklury sales of between $2.8 and $2.83 billion for last year, Gilead said Monday. The California company now expects total 2020 sales to check in between $24.3 billion and $24.35 billion, well above the $23 billion to $23.5 billion range it had previously laid out.

“It speaks volumes to the role Veklury is playing in this pandemic,” O’Day said.

RELATED: Gilead scored a full FDA approval for COVID-19 drug Veklury, but experts aren’t convinced

But while Gilead is convinced Veklury has plenty more to give when it comes to fighting the pandemic—and Gilead has plenty more of it, with supply “greatly over the demand” around the world, commercial chief Johanna Mercier said—O’Day was eager Monday to lay out a vision for Gilead’s growth that excluded the antiviral.

“Biktarvy, Biktarvy, Biktarvy—that’s very important,” O’Day said of the products that would fuel Gilead’s short-term sales expansion. “Biktarvy is in a tremendous growth mode right now and will continue in this growth mode going into 2021 and beyond,” he added.

That’s not news to anyone who’s been following the red-hot HIV med, which holds the title of No. 1 regimen across previously untreated patients and those switching from other treatments, too, Mercier said. But another drug O’Day name-dropped—Trodelvy—is newer on the scene.

RELATED: The top 15 biopharma M&A mistakes of the last decade | Gilead Sciences/Kite

The centerpiece of Gilead’s $21 billion Immunomedics buy, the treatment is a “transformational” med for Gilead, to hear O’Day tell it. It’s put up “astonishing” survival numbers in tough-to-treat, late-stage triple-negative breast cancer, and it “clearly has potential in many tumors,” he said.

Gilead certainly hopes so. Its last major cancer buy—2017’s $11.9 billion Kite Pharma acquisition, meant to establish oncology as a major revenue generator after the Big Biotech’s hepatitis C business came crashing down—still hasn’t turned up the kind of revenue numbers industry watchers expected when the deal went through.



Source link

Latest Articles

Widely used chemical linked to 1,00,000 US deaths per year: Study

NEW YORK: Daily exposure to phthalates, a group of chemicals used in everything from plastic containers to makeup, may lead to approximately 100,000 deaths...

Foods to Reduce Inflammation and Strengthen the Immune System

Did you know that you can greatly reduce inflammation and boost your immune system by simply incorporating more anti-inflammatory foods and beverages into your...

Personal Selling

INTRODUCTION Early sellers and traders were not held in high esteem. The Roman word for salesman meant ‘Cheater’ and...

Building Muscle on a Vegan Diet

There are a lot of  misconceptions surrounding veganism. The notion that those who practice it are lacking in protein and therefore muscles is the...

Electrodes in brain new hope for severe cases of epilepsy

Neurosurgeons at All India Institute of Medical Sciences have devised a new technique for operating on children suffering from a severe form of epilepsy...