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Shares of Gilead Sciences (NASDAQ:GILD) dipped 3% in post-market buying and selling Tuesday after the HIV drugmaker issued a lackluster 2024 gross sales forecast that fell a bit wanting Street estimates.
After market shut, Gilead reported an adjusted This autumn revenue of $1.72 per share on income of $7.1B. Analysts had been anticipating an adjusted revenue of $1.76 per share on income of $7.1B.
Gilead mentioned that This autumn gross sales had slid 3.7% from yr earlier than, due largely to decreased gross sales of its COVID-19 drug Veklury, which plunged 28% to $720M, and a 2% drop in gross sales of its HIV merchandise, which it attributed partly to pricing points.
Full-year 2023 income decreased 1% year-over-year to $27.1B, with product gross sales of $26.9B.
Looking forward, Gilead mentioned that it’s now anticipating 2024 product gross sales of $27.1B to $27.5B, together with $1.3B in Veklury gross sales.
Analysts, on common, had been anticipating 2024 gross sales of $27.63B.