BioCentury
ARTICLE | Finance

The bite of reform

Healthcare reform dings big biotechs unevenly; Gilead takes biggest hit so far

April 26, 2010 7:00 AM UTC

The initial negative impact of healthcare reform on pharma and biotech P&Ls is becoming apparent midway through earnings season.

Investors shaved almost $4 billion off the market cap of Gilead Sciences Inc. (NASDAQ:GILD) last week after the company disclosed that the new healthcare reform law would trim its 2010 sales by about $200 million and lower fully diluted EPS by about $0.15...