Gilead Sciences, Inc. GILD reported significantly softer sales of its blockbuster Hep C drug, Sovaldi. Gilead reported that sales were down almost 20 percent on a quarter-over-quarter basis.
Analysts were expecting some softening in revenues, but the company's numbers came in below Wall Street's $2.97 billion sales expectation. Gilead booked sales of $2.8 billion for the period -- a decline of nearly 6 percent.
In after-hours trading, Gilead's stock price is down 2.86 percent to $100.25 per share.
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