Gilead reports sinking HCV sales, Yescarta update

Gilead Sciences Inc. (NASDAQ:GILD) reported declines in HCV product sales in its 4Q17 earnings report Tuesday and also provided an update on its chimeric antigen receptor (CAR) T cell therapy, Yescarta axicabtagene ciloleucel.

HCV drugs brought in revenue of $1.5 billion for the quarter, down 53% from $3.2 billion in 4Q16. Gilead CFO Robin Washington said on the earnings call that new competition and fewer patient starts contributed to the decline. For 2018, Gilead guided for HCV sales of $3.5-$4 billion, the high end of which is in line with consensus estimates of $4 billion...