Greedy Gilead Sciences Raises Price Of Top Selling ProductsNelson Vergel
Gilead Sciences Raises Price Of Top Selling Products
By Thomas Gryta, Of DOW JONES NEWSWIRES
NEW YORK -(Dow Jones)- Gilead Sciences Inc. (GILD), known for selling
HIV drugs, increased the prices of several of its top selling products
at the beginning of the month.
The Foster City, Calif., drug maker increased the price of its biggest
seller, HIV treatment Atripla, by 5.1%, according to a spokeswoman
Monday. Gilead also raised the price of HIV drugs Truvada and Emtriva
by 7.9%, and lung disease treatment Letairis by 4.9%.
For the company’s HIV products, a price freeze for AIDS Drug
Assistance Programs remains in effect, she said.
Cowen & Co. analyst Phil Nadeau said the increases are “consistent in
magnitude and timing with Gilead’s historical patterns.” He said the
increases will impact about 60% to 70% of the U.S. market, which is
about 60% of Gilead’s global sales of HIV drugs.
Gilead reported 2010 total product sales of $7.39 billion with Atripla
bringing in $1.9 billion in the U.S.
Truvada had U.S. sales of $1.3 billion last year, while Emtriva had
just $16.7 million. Letairis had 2010 sales of $240.3 million.