Gilead beats Street

Gilead (NASDAQ:GILD) reported 4Q07 non-GAAP diluted EPS of $0.44, beating the Street's $0.40 estimate by $0.04 and up 7% from $0.41 in 4Q06. Revenues rose 22% to $1.09 billion from $899.2 million in 4Q06. Combined sales of Gilead's HIV products were $864.2 million, up 35% from $642.4 million in 4Q06. The increase was driven by sales of Truvada emtricitabine/tenofovir and Atripla, a fixed-dose combination of Truvada and Sustiva efavirenz from Bristol-Myers (NYSE:BMY) that was launched in the U.S. in 3Q06. Truvada sales rose 33% to $448.8 million from $337.1 million in 4Q06. Atripla had 4Q07 sales of $259.7 million, up 89% from $137.4 million in 4Q06.

For the year, GILD reported non-GAAP EPS of $1.81, up 33% from $1.36 in 2006. Full year revenues increased 40% to $4.2 billion from $3 billion in 2006. Gilead expects 2008 product sales of $4.7-$4.8 billion. ...