Gilead Slips as Sales of Blockbuster Hepatitis Drugs Fade
- Product sales guidance disappoints, sending shares downward
- Drugmaker pivoting to complex cancer medicines after Kite deal
Photographer: David Paul Morris/Bloomberg
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Gilead Sciences Inc. shares slipped after the biotechnology giant issued a disappointing sales outlook for drugs that once helped drive its profits.
Product sales for 2018 will be $20 billion to $21 billion, the company said in a statement on Tuesday. That’s below the $21.3 billion analysts were expecting, according to Barclays Plc.