LOS ANGELES (MarketWatch)—The future appeared golden when Gilead
Sciences Inc. reported its results Tuesday, with earnings per share
blowing past forecasts and revenue beating estimates by more than half a
So why was Gilead’s
stock down by double digits at
one point Wednesday morning? The main driver of those results, the hit
hepatitis C drug Sovaldi, will come down in price, the company says.
will begin offering discounts and rebates of up to 46% this year for
the $1,000-a-day pill to insurers and others who pay for health care
expenses, now that rivals like AbbVie Inc.
and Merck & Co. Inc.
are entering the market.
Labels: Sovaldi discount