Gilead quarterly revenue rises 17% on remdesivir sales By Reuters

© Reuters. FILE PHOTO: Gilead Sciences Inc pharmaceutical company is seen during the outbreak of the coronavirus disease (COVID-19), in California

(Reuters) – Gilead Sciences Inc (NASDAQ:) reported a 17% rise in quarterly revenue on Wednesday, helped by sales of its antiviral drug remdesivir, the first and only treatment approved in the United States for patients hospitalized with COVID-19.

Remdesivir brought in $873 million in the third quarter ended Sept. 30, below analysts’ estimates of $960 million, according to Refinitiv IBES data.

Remdesivir, given intravenously, won formal U.S. approval last week, but the drug has been available under an FDA emergency use authorization since May.

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