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Gilead Sciences Q4 Conference Call Play-By-Play Recap

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Gilead Sciences Q4 Conference Call Play-By-Play Recap
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Gilead Sciences reported earnings this Tuesday afternoon. Below is a live blog of the highlights, delayed by 10 minutes. Get real-time trading picks from experts in the biotech sector with the Biotech Trader.

Gilead Sciences (NASDAQ: GILD) Update:

  • 05:45:48 pm: Gilead Sciences Beats Q4 Views But Outlook Disappoints, Shares Fall. Read full article here.
  • 05:36:38 pm: Gilead Sciences conference call ends.
  • 05:32:44 pm: Gilead has a large, sustainable market in Europe that will continue with healthy growth in the coming years.
  • 05:22:31 pm: The timing of our dividend reflects our confidence in our cash flow and balance sheet. Does not in any way prevent the company from investing in its business pipeline or M&A. We do not feel constrained in any way by issuing this dividend.
  • 05:21:19 pm: Gilead sales team has been a lot of time securing access in 2014 and will shift to drive demand in 2015.
  • 05:19:31 pm: Harvoni has proven to be effective on a much wider range of patients than previously thought, we are not concerned about future competition and this represents a very strong category for Gilead based on this profile.
  • 05:05:05 pm: 70% of patients in 2014 came from the private sector
  • 04:59:35 pm: We are confident that we will see a large increase in patients across the US based on our goals to achieve greater accessibility.
  • 04:58:52 pm: Intentions for dividend are to grow over time, but at the moment they will still use share repurchases as the larger portion of the share returns in the near future.
  • 04:57:17 pm: Gilead conference call Q&A begins
  • 04:55:05 pm: CFO Washington: Expecting 2015 product sales to be $26-27B, increase of 6-10% over 2014
  • 04:54:28 pm: CFO Washington: Repaid $1B in outstanding debt in Q4
  • 04:52:40 pm: CFO Washington: HCV product sales $12.4B for 2014, helped by continued launches of Sovaldi and Harvoni and geographic expansion
  • 04:51:52 pm: Gilead Estimates 2015 Gross to Net Hepatitis C Drug Adjustments at 46% vs 22% at End of 2014
  • 04:48:52 pm: HIV: In 2014, Gilead continues clinical and commercial success, $1.9B in sales in the Q4 and $6.3B in sales for the whole year, lead by Complera and Stribild
  • 04:48:08 pm: 80% of new HIV patients started treatment on a Gilead product, 70% of which were on Truvada
  • 04:46:15 pm: We expect 2015 gross to net adjustments in product in the US to be 46%, over double in 2014 which was 22%
  • 04:42:38 pm: 140,000 have started HCV therapy on a Gilead product in the United States.
  • 04:41:08 pm: CEO Martin: Board has approved quarterly cash dividend program and $15B, 5-year repurchase. 2015 will be as busy as 2014, and will continue to provide collaboration and medication to those in need. I am proud of our progress thus far.
  • 04:36:46 pm: CEO John Martin: Sovaldi has been approved in India and currently has 15,000 under treatment
  • 04:30:00 pm: Conference call begins
  • 04:26:34 pm: Gilead conference call expected to start at 4:30 pm ET. Click here to listen to the webcast.
  • 04:07:50 pm: Gilead Sciences Announces Initial Dividend Of $0.43/share
  • 04:07:06 pm: Gilead Sciences Announces $15B Buyback Program
  • 04:04:04 pm: Gilead Reports Q4 Adj. EPS $2.43 vs $2.21 Est., Sales $7.31B vs $6.74B Est.
  • 02:13:45 pm: Gilead Sciences earnings preview.

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