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DJ Gilead's Veklury Helps Offset HIV Headwinds -- Market Talk

· 02/04/2021 17:13

17:13 ET - Gilead's 2021 financial guidance indicates that its Covid-19 drug Veklury will continue to help offset pressure on its core HIV drug franchise from generic competition. Company sees Veklury sales of $2B-$3 in 2021, giving the company breathing room to develop its new product pipeline. RBC Capital expects Veklury to decline as hospitalization rates go down over the course of this year, which "will necessitate growth drivers coming from other parts of the business to offset likely post-'21 Veklury declines." But Gilead is more optimistic, and "expect[s] Veklury will remain a critical tool for patients and physicians well into the future," Chief Commercial Officer Johanna Mercier says on an analyst call. Gilead gains 2% after hours. (joseph.walker@wsj.com)

(END) Dow Jones Newswires

February 04, 2021 17:13 ET (22:13 GMT)

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