Gilead Announces $5 Billion Share Repurchase Program
FOSTER CITY, Calif.--(BUSINESS WIRE)--May 7, 2014-- Gilead Sciences, Inc. (Nasdaq:GILD) today announced that the company’s Board of Directors has authorized a repurchase of up to $5 billion of the company’s common stock. This is in addition to a separate $5 billion buyback program announced in January2011, which has approximately $2.9 billion remaining in the plan and is expected to be completed bySeptember 2014. The new program expires three years after the completion of the current repurchase program.
Published: November 15, 2014
By: Hannah Ishmael
Harvoni, Gilead‘s newer version of hepatitis C blockbuster Sovaldi, has received a strong reception since its launch this month, with prescription numbers already breaking Sovaldi‘s initial records
Gilead Sciences, Inc. (GILD), which led the hepatitis C virus (HCV) space last year with the launch of its blockbuster drug Sovaldi, is likely to continue the domination with its latest HCV drug Harvoni, which entered the market this month. Prescriptions for Harvoni are already breaking Sovaldi’s initial records.
The two drugs, along with Gilead’s premier HCV portfolio, are expected to continue bringing in record sales for the company. Citigroup Inc. has forecasted sales from Gilead’s HCV segment to reach $13 billion for the full-year 2014, compared to $9.33 billion last year