Gilead Says Profit Increased Fivefold
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From Reuters
Biotechnology company Gilead Sciences Inc. said its profit quintupled in the second quarter, driven by booming sales of the HIV drug Viread.
Foster City, Calif.-based Gilead reported net income of $100.4 million, or 46 cents a share, compared with $19.7 million, or 10 cents, a year earlier. Revenue rose 118% to $239 million.
Shares fell 56 cents to $68.23 on Nasdaq before the announcement, and rose as high as $68.55 in after-hours trading.
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