The developer of drugs to treat viral, fungal, lung and heart diseases said Q4 earnings per share rose a penny from last year, to 50 cents, topping analyst projections by 2 cents. Revenue jumped 18% to $2.59 bil, topping forecasts of $2.43 bil. Gilead Sciences (GILD) said the sales increase came primarily on increased sales in its antiviral drugs, including Atripla and Truvada, and the launch of a new drug, Stribild, a fixed-dose treatment for HIV/AIDS. On Mon., Gilead said 2 late-stage studies involving patients with chronic hepatitis C have met their goals. Shares fell 2.4%.
Happy demi-anniversary, stock market rally. Will the honeymoon ever end?