19.04.2006

Biotech company Gilead Sciences Inc. said Tuesday (18/04) its first-quarter profit rose 67 percent and beat Wall Street estimates due to more sales of HIV drugs and Tamiflu royalties from Roche Holdings Ltd.
Net income grew to $262.7 million, or 55 cents per share, from $157.1 million, or 34 cents per share, a year ago. Revenue rose 61 percent to $692.9 million from $430.4 million last year.
Product sales of $559.4 million were driven mainly by Burlingame-based Gilead’s HIV products. However, royalties from Roche, which markets the flu treatment Tamiflu, jumped to $115.3 million from $11.9 million a year ago because of increased avian influenza preparations around the world.