The Food and Drug Administration OK’d Gilead Sciences’ (GILD) hepatitis C pill Sovaldi late Friday, an expected but still key step for a drug widely seen as a mega-blockbuster. Analysts foresee a very rapid uptake, with Sovaldi sales of $1.7 billion next year and $8 billion in 2018. That would make it one of the world’s best-selling drugs. Gilead shares edged higher late Friday after closing up 1%. The drug ended up with a
Although many say the drug industry is entering the “post-blockbuster era” as mega-sellers such as Lipitor lose their patents, there are drugs in the pipeline expected to pass the traditional blockbuster benchmark of $1 billion in global annual sales. Here’s a preview of four of them, expected to launch in the next 12 months, that have attracted much interest from Wall Street. Sovaldi: Gilead Sciences’ (GILD) hepatitis C treatment, formerly known
Gilead Sciences’ (GILD) hepatitis C drug sofosbuvir won a European advisory panel vote earlier than Wall Street expected Friday, sending the stock up more than 4% to an all-time high on the stock market today. The EU’s Committee for Medicinal Products for Human Use (CHMP) recommended approving sofosbuvir, now branded Sovaldi, following an accelerated review procedure after the drug performed very well in clinical trials. The European Commission