EX-99.1 2 exhibit991earningspressrel.htm EXHIBIT 99.1 Exhibit

CONTACTS:
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Robin Washington
Patrick O'Brien
 
Amy Flood
 
(650) 522-5688
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Sung Lee
 
 
 
 
(650) 524-7792
 
 
 
 
 
 
 
 
For Immediate Release

GILEAD SCIENCES ANNOUNCES FIRST QUARTER 2016 FINANCIAL RESULTS

- Product Sales of $7.7 billion -
- GAAP Diluted EPS of $2.53 per share -
- Non-GAAP Diluted EPS of $3.03 per share -
- Reiterates Full Year 2016 Guidance -

Foster City, CA, April 28, 2016 - Gilead Sciences, Inc. (Nasdaq: GILD) announced today its results of operations for the first quarter ended March 31, 2016. The financial results that follow represent a year-over-year comparison of first quarter 2016 to the first quarter 2015. Total revenues were $7.8 billion in 2016 compared to $7.6 billion in 2015. Net income was $3.6 billion or $2.53 per diluted share in 2016 compared to $4.3 billion or $2.76 per diluted share in 2015. Non-GAAP net income, which excludes acquisition-related, up-front collaboration, stock-based compensation and other expenses, was $4.3 billion or $3.03 per diluted share in 2016 compared to $4.6 billion or $2.94 per diluted share in 2015.

 
 
Three Months Ended
 
 
March 31,
(In millions, except per share amounts)
 
2016
 
2015
Product sales
 
$
7,681

 
$
7,405

Royalty, contract and other revenues
 
113

 
189

Total revenues
 
$
7,794

 
$
7,594

 
 
 
 
 
Net income attributable to Gilead
 
$
3,566

 
$
4,333

Non-GAAP net income attributable to Gilead
 
$
4,274

 
$
4,604

 
 
 
 
 
Diluted EPS
 
$
2.53

 
$
2.76

Non-GAAP diluted EPS
 
$
3.03

 
$
2.94

Product Sales
Total product sales for the first quarter of 2016 were $7.7 billion compared to $7.4 billion for the same period in 2015.
Product sales for the first quarter of 2016 were $4.4 billion in the U.S., $1.6 billion in Europe, $1.1 billion in Japan and$571 million in other international locations. Product sales for the first quarter of 2015 were $5.2 billion in the U.S., $1.8 billion in Europe and $364 million in other international locations.


- more -

Gilead Sciences, Inc. 333 Lakeside Drive Foster City, CA 94404 USA
www.gilead.com
phone (650) 574-3000 facsimile (650) 578-9264
 

April 28, 2016
 
2

Antiviral Product Sales
Antiviral product sales, which include products in our HIV and liver disease areas, were $7.2 billion for the first quarter of 2016 compared to $7.0 billion for the same period in 2015.
•
In the U.S., antiviral product sales were $4.0 billion for the first quarter of 2016 compared to $4.9 billion in 2015, primarily due to a decline in sales of Harvoni® (ledipasvir 90 mg/sofosbuvir 400 mg), partially offset by increases in sales of Sovaldi® (sofosbuvir 400 mg), Truvada® (emtricitabine and tenofovir disoproxil fumarate) and Genvoya® (elvitegravir 150 mg/cobicistat 150 mg/emtricitabine 200 mg/tenofovir alafenamide 10 mg). Genvoya was launched in the U.S. in November 2015.
•
In Europe, antiviral product sales were $1.6 billion for the first quarter of 2016 compared to $1.7 billion in 2015, primarily due to a decline in sales of Sovaldi.
•
In Japan, antiviral product sales were $1.1 billion. Sovaldi and Harvoni were launched in Japan in May and September 2015, respectively.

Other Product Sales
Other product sales, which include Letairis® (ambrisentan), Ranexa® (ranolazine) and AmBisome® (amphotericin B liposome for injection), were $498 million for the first quarter of 2016 compared to $417 million for the same period in 2015.
Cost of Goods Sold
Non-GAAP* cost of goods sold increased to $983 million for the first quarter of 2016 compared to $674 million for the same period in 2015, primarily due to a $200 million litigation charge related to our sofosbuvir based product sales.
Operating Expenses
 
 
Three Months Ended
 
 
March 31,
(In millions)
 
2016
 
2015
Non-GAAP* research and development expenses (R&D)
 
$
769

 
$
651

Non-GAAP* selling, general and administrative expenses (SG&A)
 
$
638

 
$
600


*
Non-GAAP Cost of Goods Sold, R&D and SG&A expenses exclude acquisition-related, up-front collaboration, stock-based compensation and other expenses

During the first quarter of 2016, compared to the same period in 2015:
•
Non-GAAP research and development expenses increased primarily due to the progression of Gilead's clinical studies.
•
Non-GAAP selling, general and administrative expenses increased primarily due to higher costs to support Gilead's geographic expansion of its business, partially offset by a decrease in our Branded Prescription Drug fee expense.
Cash, Cash Equivalents and Marketable Securities
As of March 31, 2016, Gilead had $21.3 billion of cash, cash equivalents and marketable securities compared to $26.2 billion as of December 31, 2015. During the first quarter of 2016, we utilized $8.0 billion on stock repurchases and made an upfront license fee payment of $300 million and an equity investment of $425 million related to our license and collaboration agreement with Galapagos NV. Cash flow from operating activities was $3.9 billion for the quarter.

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April 28, 2016
 
3

Full Year 2016 Guidance
Gilead reiterates its full year 2016 guidance, initially provided on February 2, 2016:
(In millions, except percentages and per share amounts)
 
Provided
February 2, 2016
Net Product Sales
 
$30,000 - $31,000
Non-GAAP*
 
 
 
Product Gross Margin
 
88% - 90%
 
R&D expenses
 
$3,200 - $3,500
 
SG&A expenses
 
$3,300 - $3,600
 
Effective Tax Rate
 
18.0% - 20.0%
Diluted EPS Impact Related to Acquisition, Up-front Collaboration, Stock-based Compensation and Other Expenses
 
$1.10 - $1.16
 
 
 
 
* Non-GAAP Product Gross Margin, R&D and SG&A expenses and effective tax rate exclude acquisition-related, up-front collaboration, stock-based compensation and other expenses.
Corporate Highlights
•
Announced that Chairman and Chief Executive Officer (CEO) John C. Martin, PhD assumed the role of Executive Chairman of the company. John F. Milligan, PhD, formerly President and Chief Operating Officer, was promoted to President and CEO, effective March 10, 2016, and appointed to the company’s Board of Directors.
•
Announced that Gilead will provide grants for up to three years to academic institutions, nonprofit organizations and community groups engaged in HIV cure activities. The unrestricted grants are awarded to organizations with a track record of excellence in results-driven research.
•
Announced that the Board of Directors approved the repurchase of an additional $12 billion of the company’s common stock which commenced upon completion of the company’s existing $15 billion repurchase program authorized in January 2015.
Product & Pipeline Updates announced by Gilead during the First Quarter of 2016 include:
•
Announced that U.S. Food and Drug Administration (FDA) approved Odefsey® (emtricitabine 200 mg/rilpivirine 25 mg/tenofovir alafenamide 25 mg or R/F/TAF) for the treatment of HIV-1 infection in certain patients. Emtricitabine and tenofovir alafenamide are from Gilead while rilpivirine is from Janssen Sciences Ireland UC, one of the Janssen Pharmaceutical Companies of Johnson & Johnson. Odefsey is Gilead’s second TAF-based regimen to receive FDA approval and represents the smallest pill of any single-tablet regimen available today for the treatment of HIV.
•
Announced that the Committee for Medicinal Products for Human Use, the scientific committee of the European Medicines Agency (EMA), adopted a positive opinion on the company’s Marketing Authorization Application (MAA) for two doses of Descovy® (emtricitabine 200 mg/tenofovir alafenamide 25 mg, F/TAF), an investigational fixed-dose combination for the treatment of HIV-1 infection in adults and adolescents (ages 12 years and older with body weight at least 35 kg) in combination with other HIV antiretroviral agents.
•
Presented data at the 2016 Conference on Retroviruses and Opportunistic Infections, which included the announcement of:
▪
48-week results from a Phase 3 study (Study 1089) evaluating the safety and efficacy of switching virologically suppressed HIV-1 infected adult patients from regimens containing Truvada to regimens containing the investigational fixed-dose combination of emtricitabine and F/TAF. At Week 48, the F/TAF-based regimens were found to be statistically non-inferior to the emtricitabine and tenofovir disoproxil fumarate (F/TDF) -based regimens, based on percentages of patients with HIV-1 RNA levels less than 50 copies/mL. The study also demonstrated statistically significant improvements in renal and bone laboratory parameters among patients receiving F/TAF-based regimens.

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April 28, 2016
 
4

▪
Results from a preclinical study conducted in collaboration with researchers at Beth Israel Deaconess Medical Center evaluating a proprietary investigational oral toll-like receptor 7 (TLR7) agonist, GS-9620, and a related molecular analogue, GS-986, as part of an HIV eradication strategy. Data from the study conducted in simian immunodeficiency virus (SIV)-infected virally suppressed rhesus macaques on antiretroviral therapy (ART) demonstrate that TLR7 agonist treatment induced transient plasma SIV RNA blips and reduced SIV DNA. In addition, TLR7 agonist treatment resulted in subsequent prolonged virus suppression in some of the macaques after stopping ART.
•
Announced that the company’s Type II variation application for once-daily Truvada in combination with safer sex practices to reduce the risk of sexually acquired HIV-1 infection among uninfected adults at high risk, a strategy known as pre-exposure prophylaxis or PrEP, was fully validated and under evaluation by the EMA.
•
Announced that the company’s MAA for TAF 25 mg, an investigational, once-daily treatment for adults with chronic hepatitis B virus (HBV) infection, was fully validated and under assessment by the EMA. The company also submitted a new drug application (NDA) to FDA for TAF 25 mg for the treatment for adults with chronic HBV infection.
•
Announced that FDA approved two supplemental indications for Harvoni for use in chronic hepatitis C patients with advanced liver disease. Harvoni in combination with ribavirin for 12 weeks was approved for use in chronic hepatitis C virus (HCV) genotype 1- or 4-infected liver transplant recipients without cirrhosis or with compensated cirrhosis (Child-Pugh A), and for HCV genotype 1-infected patients with decompensated cirrhosis (Child-Pugh B or C), including those who have undergone liver transplantation. Harvoni is approved for use in HCV genotypes 1, 4, 5 and 6, HCV/HIV-1 coinfection, HCV genotype 1 and 4 liver transplant recipients, and genotype 1-infected patients with decompensated cirrhosis.
•
Announced that FDA granted priority review to the company’s NDA for an investigational once-daily fixed-dose combination of sofosbuvir and velpatasvir (SOF/VEL), for the treatment of chronic genotype 1-6 HCV infection. FDA has set a target action date under the Prescription Drug User Fee Act of June 28, 2016.

Conference Call
At 4:30 p.m. Eastern Time today, Gilead's management will host a conference call and a simultaneous webcast to discuss results from its first quarter 2016 as well as provide a general business update. To access the webcast live via the internet, please connect to the company's website at www.gilead.com/investors 15 minutes prior to the conference call to ensure adequate time for any software download that may be needed to hear the webcast. Alternatively, please call 1-877-359-9508 (U.S.) or 1-224-357-2393 (international) and dial the conference ID 76639018 to access the call.
A replay of the webcast will be archived on the company's website for one year, and a phone replay will be available approximately two hours following the call through April 30, 2016. To access the phone replay, please call 1-855-859-2056 (U.S.) or 1-404-537-3406 (international) and dial the conference ID 76639018.

About Gilead
Gilead Sciences is a biopharmaceutical company that discovers, develops and commercializes innovative therapeutics in areas of unmet medical need. The company's mission is to advance the care of patients suffering from life-threatening diseases. Gilead has operations in more than 30 countries worldwide, with headquarters in Foster City, California.
Non-GAAP Financial Information
Gilead has presented certain financial information in accordance with U.S. generally accepted accounting principles (GAAP) and also on a non-GAAP basis. Management believes this non-GAAP information is useful for investors, when considered in conjunction with Gilead's GAAP financial statements, because management uses such information internally for its operating, budgeting and financial planning purposes. Non-GAAP information is not prepared under a comprehensive set of accounting rules and should only be used to supplement an understanding of Gilead's operating results as reported under GAAP. A reconciliation between GAAP and non-GAAP financial information is provided in the tables on pages 7 and 8.


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April 28, 2016
 
5

Forward-looking Statements
Statements included in this press release that are not historical in nature are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Gilead cautions readers that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: Gilead's ability to achieve its anticipated full year 2016 financial results; Gilead's ability to sustain growth in revenues for its antiviral and other programs; availability of funding for state AIDS Drug Assistance Programs (ADAPs); continued fluctuations in ADAP purchases driven by federal and state grant cycles which may not mirror patient demand and may cause fluctuations in Gilead's earnings; the possibility of unfavorable results from clinical trials involving investigational compounds, including GS-9620 and GS-986; Gilead's ability to initiate clinical trials in its currently anticipated timeframes; the levels of inventory held by wholesalers and retailers which may cause fluctuations in Gilead's earnings; Gilead's ability to submit new drug applications for new product candidates in the timelines currently anticipated; Gilead's ability to receive regulatory approvals in a timely manner or at all, for new and current products, including SOF/VEL and TAF for the treatment of chronic HBV; Gilead's ability to successfully commercialize its products, including Genvoya, Odefsey and Descovy; the risk that physicians and patients may not see advantages of these products over other therapies and may therefore be reluctant to prescribe the products; the risk that estimates of patients with HCV or anticipated patient demand may not be accurate; the risk that private and public payers may be reluctant to provide, or continue to provide, coverage or reimbursement for new products, including Sovaldi and Harvoni; Gilead's ability to successfully develop its oncology, inflammation, cardiovascular and respiratory programs; safety and efficacy data from clinical studies may not warrant further development of Gilead's product candidates; the potential for pricing pressure from additional competitive HCV launches or austerity measures in European countries and Japan that may increase the amount of discount required on Gilead's products; Gilead's ability to complete its share repurchase program due to changes in its stock price, corporate or other market conditions; fluctuations in the foreign exchange rate of the U.S. dollar that may cause an unfavorable foreign currency exchange impact on Gilead's future revenues and pre-tax earnings; and other risks identified from time to time in Gilead's reports filed with the U.S. Securities and Exchange Commission (SEC). In addition, Gilead makes estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosures. Gilead bases its estimates on historical experience and on various other market specific and other relevant assumptions that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ significantly from these estimates. You are urged to consider statements that include the words may, will, would, could, should, might, believes, estimates, projects, potential, expects, plans, anticipates, intends, continues, forecast, designed, goal, or the negative of those words or other comparable words to be uncertain and forward-looking. Gilead directs readers to its press releases, Annual Report on Form 10-K for the year ended December 31, 2015 and other subsequent disclosure documents filed with the SEC. Gilead claims the protection of the Safe Harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements.
All forward-looking statements are based on information currently available to Gilead, and Gilead assumes no obligation to update any such forward-looking statements.
# # #
Gilead owns or has rights to various trademarks, copyrights and trade names used in our business, including the following: GILEAD®, GILEAD SCIENCES®, AMBISOME®, CAYSTON®, COMPLERA®, DESCOVY®, EMTRIVA®, EVIPLERA®, GENVOYA®, HARVONI®, HEPSERA®, LETAIRIS®, ODEFSEY®, RANEXA®, RAPISCAN®, SOVALDI®, STRIBILD®, TRUVADA®, TYBOST®, VIREAD®, VITEKTA®, VOLIBRIS®, and ZYDELIG®.
 
ATRIPLA® is a registered trademark belonging to Bristol-Myers Squibb & Gilead Sciences, LLC. LEXISCAN® is a registered trademark belonging to Astellas U.S. LLC. MACUGEN® is a registered trademark belonging to Eyetech, Inc. SUSTIVA® is a registered trademark of Bristol-Myers Squibb Pharma Company. TAMIFLU® is a registered trademark belonging to Hoffmann-La Roche Inc.

For more information on Gilead Sciences, Inc., please visit www.gilead.com or
call the Gilead Public Affairs Department at 1-800-GILEAD-5 (1-800-445-3235).

- more -

April 28, 2016
 
6

GILEAD SCIENCES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(unaudited)
(in millions, except per share amounts)

 
 
Three Months Ended
 
 
March 31,
 
 
2016
 
2015
 Revenues:
 
 
 
 
 Product sales
 
$
7,681

 
$
7,405

 Royalty, contract and other revenues
 
113

 
189

 Total revenues
 
7,794

 
7,594

 Costs and expenses:
 
 
 
 
 Cost of goods sold
 
1,193

 
882

 Research and development expenses
 
1,265

 
696

 Selling, general and administrative expenses
 
685

 
645

 Total costs and expenses
 
3,143

 
2,223

 Income from operations
 
4,651

 
5,371

 Interest expense
 
(230
)
 
(153
)
 Other income (expense), net
 
81

 
21

 Income before provision for income taxes
 
4,502

 
5,239

 Provision for income taxes
 
935

 
907

 Net income
 
3,567

 
4,332

Net income (loss) attributable to noncontrolling interest
 
1

 
(1
)
 Net income attributable to Gilead
 
$
3,566

 
$
4,333

 Net income per share attributable to Gilead common stockholders - basic
 
$
2.58

 
$
2.91

 Shares used in per share calculation - basic
 
1,383

 
1,488

 Net income per share attributable to Gilead common stockholders - diluted
 
$
2.53

 
$
2.76

 Shares used in per share calculation - diluted
 
1,412

 
1,569

Cash dividends declared per share
 
$
0.43

 
$
—




April 28, 2016
 
7

GILEAD SCIENCES, INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION
(unaudited)
(in millions, except percentages and per share amounts)
 
 
Three Months Ended
 
 
March 31,
 
 
2016
 
2015
Cost of goods sold reconciliation:
 
 
 
 
GAAP cost of goods sold
 
$
1,193

 
$
882

Acquisition related-amortization of purchased intangibles
 
(210
)
 
(206
)
Stock-based compensation expenses
 
(3
)
 
(3
)
Other(1)
 
3

 
1

Non-GAAP cost of goods sold
 
$
983

 
$
674

 
 
 
 
 
Product gross margin reconciliation:
 
 
 
 
GAAP product gross margin
 
84.5
 %
 
88.1
%
Acquisition related-amortization of purchased intangibles
 
2.7
 %
 
2.8
%
Non-GAAP product gross margin(2)
 
87.2
 %
 
90.9
%
 
 
 
 
 
Research and development expenses reconciliation:
 
 
 
 
GAAP research and development expenses
 
$
1,265

 
$
696

Up-front collaboration expenses
 
(368
)
 
—

Acquisition related-IPR&D impairment
 
(114
)
 
—

Stock-based compensation expenses
 
(41
)
 
(42
)
Other(1)
 
27

 
(3
)
Non-GAAP research and development expenses
 
$
769

 
$
651

 
 
 
 
 
Selling, general and administrative expenses reconciliation:
 
 
 
 
GAAP selling, general and administrative expenses
 
$
685

 
$
645

Stock-based compensation expenses
 
(44
)
 
(47
)
Other(1)
 
(3
)
 
2

Non-GAAP selling, general and administrative expenses
 
$
638

 
$
600

 
 
 
 
 
Operating margin reconciliation:
 
 
 
 
GAAP operating margin
 
59.7
 %
 
70.7
%
Up-front collaboration expenses
 
4.7
 %
 
—
%
Acquisition related-amortization of purchased intangibles
 
2.7
 %
 
2.7
%
Acquisition related-IPR&D impairment
 
1.5
 %
 
—
%
Stock-based compensation expenses
 
1.1
 %
 
1.2
%
Other(1)
 
(0.3
)%
 
—
%
Non-GAAP operating margin(2)
 
69.3
 %
 
74.7
%
 
 
 
 
 
Notes:
 
 
 
 
 (1) Amounts related to consolidation of a contract manufacturer, contingent consideration and/or other individually insignificant amounts
 (2) Amounts may not sum due to rounding


April 28, 2016
 
8

GILEAD SCIENCES, INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION - (Continued)
(unaudited)
(in millions, except percentages and per share amounts)
 
Three Months Ended
 
March 31,
 
2016
 
2015
Effective tax rate reconciliation:
 
 
 
GAAP effective tax rate
20.8
 %
 
17.3
 %
Up-front collaboration expenses
(1.5
)%
 
—
 %
Acquisition related-amortization of purchased intangibles
(0.7
)%
 
(0.4
)%
Other (1)
0.1
 %
 
— %

Non-GAAP effective tax rate(2)
18.7
 %
 
16.9
 %
 
 
 
 
Net income attributable to Gilead reconciliation:
 
 
 
GAAP net income attributable to Gilead
$
3,566

 
$
4,333

Up-front collaboration expenses
368

 
—

Acquisition related-amortization of purchased intangibles
204

 
201

Acquisition related-IPR&D impairment
99

 
—

Stock-based compensation expenses
64

 
69

Other(1)
(27
)
 
1

Non-GAAP net income attributable to Gilead
$
4,274

 
$
4,604

 
 
 
 
Diluted earnings per share reconciliation:
 
 
 
GAAP diluted earnings per share
$
2.53

 
$
2.76

Up-front collaboration expenses
0.26

 
—

Acquisition related-amortization of purchased intangibles
0.14

 
0.13

Acquisition related-IPR&D impairment
0.07

 
—

Stock-based compensation expenses
0.05

 
0.04

Other(1)
(0.02
)
 
—

Non-GAAP diluted earnings per share(2)
$
3.03

 
$
2.94

 
 
 
 
Shares used in per share calculation (diluted) reconciliation:
 
 
 
GAAP shares used in per share calculation (diluted)
1,412

 
1,569

Share impact of current stock-based compensation rules
(1
)
 
(1
)
Non-GAAP shares used in per share calculation (diluted)
1,411

 
1,568

 
 
 
 
Non-GAAP adjustment summary:
 
 
 
Cost of goods sold adjustments
$
210

 
$
208

Research and development expenses adjustments
496

 
45

Selling, general and administrative expenses adjustments
47

 
45

Total non-GAAP adjustments before tax
753

 
298

Income tax effect
(45
)
 
(28
)
Other(1)
—

 
1

Total non-GAAP adjustments after tax attributable to Gilead
$
708

 
$
271

 
 
 
 
Notes:
 
 
 
 (1) Amounts related to consolidation of a contract manufacturer, contingent consideration and/or other individually insignificant amounts
 (2) Amounts may not sum due to rounding


April 28, 2016
 
9

GILEAD SCIENCES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)
(in millions)
 
 
March 31,
 
December 31,
 
 
2016
 
2015(1)
 
 
 
 
 
Cash, cash equivalents and marketable securities
 
$
21,322

 
$
26,208

Accounts receivable, net
 
6,163

 
5,854

Inventories
 
1,880

 
1,955

Property, plant and equipment, net
 
2,431

 
2,276

Intangible assets, net
 
9,923

 
10,247

Goodwill
 
1,172

 
1,172

Other assets
 
4,874

 
4,004

Total assets
 
$
47,765

 
$
51,716

 
 
 
 
 
Current liabilities
 
$
10,910

 
$
9,890

Long-term liabilities
 
22,836

 
22,711

Equity component of currently redeemable convertible notes
 
—

 
2

Stockholders’ equity(2)
 
14,019

 
19,113

Total liabilities and stockholders’ equity
 
$
47,765

 
$
51,716

 
 
 
 
 
Notes:
 
 
 
 
(1) Derived from the audited consolidated financial statements as of December 31, 2015. Certain amounts have been reclassified to conform to current presentation.
(2) As of March 31, 2016, there were 1,348 million shares of common stock issued and outstanding.




April 28, 2016
 
10

GILEAD SCIENCES, INC.
PRODUCT SALES SUMMARY
(Unaudited)
(in millions)
 
 
Three Months Ended
 
 
March 31,
 
 
2016
 
2015
Antiviral products:
 
 
 
 
Harvoni – U.S.
 
$
1,407

 
$
3,016

Harvoni – Europe
 
555

 
477

Harvoni – Japan
 
887

 
—

Harvoni – Other International
 
168

 
86

 
 
3,017

 
3,579

 
 
 
 
 
Sovaldi – U.S.
 
645

 
421

Sovaldi – Europe
 
280

 
483

Sovaldi – Japan
 
202

 
—

Sovaldi – Other International
 
150

 
68

 
 
1,277

 
972

 
 
 
 
 
Truvada – U.S.
 
576

 
409

Truvada – Europe
 
251

 
301

Truvada – Other International
 
71

 
61

 
 
898

 
771

 
 
 
 
 
Atripla – U.S.
 
489

 
494

Atripla – Europe
 
143

 
194

Atripla – Other International
 
43

 
46

 
 
675

 
734

 
 
 
 
 
Stribild – U.S.
 
376

 
282

Stribild – Europe
 
81

 
61

Stribild – Other International
 
20

 
13

 
 
477

 
356

 
 
 
 
 
Complera / Eviplera – U.S.
 
222

 
163

Complera / Eviplera – Europe
 
146

 
145

Complera / Eviplera – Other International
 
13

 
12

 
 
381

 
320

 
 
 
 
 
Viread – U.S.
 
123

 
100

Viread – Europe
 
76

 
80

Viread – Other International
 
73

 
54

 
 
272

 
234

 
 
 
 
 
Genvoya – U.S.
 
141

 
—

Genvoya – Europe
 
16

 
—

Genvoya – Other International
 
1

 
—

 
 
158

 
—

 
 
 
 
 
Other Antiviral – U.S.
 
21

 
14

Other Antiviral – Europe
 
6

 
7

Other Antiviral – Other International
 
1

 
1

 
 
28

 
22

 
 
 
 
 
Total antiviral products – U.S.
 
4,000

 
4,899

Total antiviral products – Europe
 
1,554

 
1,748

Total antiviral products – Japan
 
1,089

 
—

Total antiviral products – Other International
 
540

 
341

 
 
7,183

 
6,988



April 28, 2016
 
11

GILEAD SCIENCES, INC.
PRODUCT SALES SUMMARY
(Continued)
(Unaudited)
(in millions)
 
 
Three Months Ended
 
 
March 31,
 
 
2016
 
2015
 
 
 
 
 
Total antiviral products sales
 
$
7,183

 
$
6,988

 
 
 
 
 
Other products:
 
 
 
 
Letairis
 
175

 
151

Ranexa
 
144

 
117

AmBisome
 
86

 
85

Zydelig
 
49

 
26

Other
 
44

 
38

 
 
498

 
417

 
 
 
 
 
 Total product sales
 
$
7,681

 
$
7,405