Gilead Sciences Reports Softer Sovaldi Revenues

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.