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  • This company just had the best new drug launch of all-time

    Amanda Diaz at Talking Numbers11 hrs ago

    It’s being called one of the best drug launches in history.

    Gilead Sciences announced better-than-expected earnings Wednesday, pushing shares higher. The results were driven by the launch of its new hepatitis C drug Sovaldi, which costs a staggering $1,000 per pill and generated $2.3 billion dollars last quarter.

    (Watch: Cramer: Gilead crux of health care in US)

    “Sovaldi’s profile has the potential to transform the treatment of hepatitis C. I couldn’t be more proud of the teams at Gilead who rapidly brought this product to market,” Gilead CEO John Martin said during the company’s earnings conference call.

    Despite a banner quarter for profits, Gilead’s stock is relatively flat on the year. So, is Gilead the right prescription for your portfolio?

    (Watch:Tech & biotech plays for your portfolio)

    “Clearly what Gilead has demonstrated is the strongest launch in pharmaceutical history,” said Michael Yee of RBC Capital Markets.

    Yee’s firm has a price target of $96 per share on Gilead, more than 20 percent higher than current levels.  

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