Gilead first-quarter profit doubles on strong hepatitis C drug sales

By Deena Beasley LOS ANGELES (Reuters) – Gilead Sciences Inc on Thursday said its quarterly profit nearly doubled, driven by strong sales of its hepatitis C drugs, as it topped Wall Street estimates. Gilead signaled that, with its hepatitis C franchise established, it is a good time for the company to consider business development opportunities. “We want to stick very closely to therapeutic areas we are in today,” Gilead Chief Operating Officer John Milligan said on a conference call. Excluding items, Gilead earned $2.94 per share in the first quarter, beating the average Wall Street estimate of $2.32, according to Thomson Reuters I/B/E/S. The company’s shares, which fell 1.8 percent in regular trading, rose 2 percent to $102.52 after hours.

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Gilead first-quarter profit doubles on strong hepatitis C drug sales