GILD - Gilead Sciences, Inc.
76.30 -0.05 (-0.07%)
After hours: 4:06PM EDT
| Previous Close | 76.06 |
| Open | 76.31 |
| Bid | 76.25 x 800 |
| Ask | 76.26 x 800 |
| Day's Range | 75.65 - 77.09 |
| 52 Week Range | 60.89 - 85.97 |
| Volume | 6,280,948 |
| Avg. Volume | 17,135,642 |
| Market Cap | 95.771B |
| Beta (5Y Monthly) | 0.71 |
| PE Ratio (TTM) | 19.60 |
| EPS (TTM) | 3.90 |
| Earnings Date | Jul. 28, 2020 - Aug. 03, 2020 |
| Forward Dividend & Yield | 2.72 (3.58%) |
| Ex-Dividend Date | Jun. 11, 2020 |
| 1y Target Est | 80.63 |
- Zacks
Gilead's Coronavirus Drug Being Stocked by the US Government
Gilead's (GILD) coronavirus drug, remdesivir, is being stocked by the Trump administration through September.
- Reuters
Indonesia seeking its own COVID-19 vaccine amid worry about access
Indonesia is working to produce its own COVID-19 vaccine next year, amid growing anxiety that developing countries could have difficulty getting access to a future jab, the head of Indonesia’s national COVID-19 research team said Thursday. “The production capability and capacity of biotech companies in the world is, we know, limited, and global supply chains also have challenges,” Ali Ghufron Mukti, head of the innovation team at Indonesia’s research and technology ministry, told a streamed press conference alongside the country’s foreign minister.
- Bloomberg
$600 or $3,120? Gilead Puts a Price Tag on Covid-19 Relief
(Bloomberg Opinion) -- While a world awash in a pandemic awaits a coronavirus vaccine, Gilead Sciences Inc. is bringing a treatment to market.Remdesivir is an experimental drug that may help Covid-19 patients recover more quickly — but it doesn’t immunize them. Its price tag is $600 for a series of six treatments for patients who live in developing countries where Gilead, to its credit, allows a generic version to be sold. If patients live in a developed country and the government insures them or provides their health care, it costs $2,340. If they have private insurance and live in the U.S., it costs $3,120. (And that’s if six treatments work; some patients are expected to need 12 treatments, so those prices could double.)That sounds like a lot of money to me. But it doesn’t sound like a lot to Gilead’s chief executive officer, Daniel O’Day.O’Day noted in a letter posted on his company’s website on Monday that remdesivir is priced “well below” the “value” it provides. He defined that “value” as the amount Gilead has determined providers and patients save (about $12,000) by shortening treatment times in hospitals. “There is no playbook for how to price a new medicine in a pandemic,” O’Day wrote. “In normal circumstances, we would price a medicine according to the value it provides.”Using already exorbitant hospitalization costs as a benchmark for value is a neat trick, but Geoffrey Porges, a prominent biotechnology and pharmaceuticals analyst, is on the same page as O’Day.“It’s unprecedented to price the drug below the medical costs that it’s saving,” Porges told NPR, saying he thought remdesivir could save as much as a whopping $40,000 per patient. Wait, there’s more. “That ignores the enormous societal value that everybody else gets from making a patient less infectious, for getting a patient back into the community, for getting them back to work sooner,” he added. “All of those societal benefits aren’t even considered in this price.”Just for speculation’s sake, what would all those societal benefits add up to? Another $40,000 per patient? $100,000? $1 million? Pick your number because any figure, in the context of squishy and hard-to-quantify externalities, will be squishy and hard to quantify.Porges has also invoked history when weighing in on remdesivir’s price tag. “If you are going to war, or preparing for war in a capitalist country, you have to let business make money out of the process or business won’t work,” he wrote in a note to investors in early June, quoting a famous diary entry of former Secretary of War Henry Stimson during World War II.There’s no question that the world is at war with Covid-19, and there’s nothing wrong with a business making money, of course. Profits are a fundamental incentive. But they frequently aren’t the only incentive. And the interesting and troubling arguments raised by remdesivir’s price have plagued the pharmaceutical and biotechnology businesses for quite some time. Mother Nature, clothed in a pandemic, is forcing an overdue adjudication of their merits.Big Pharma has asserted for years that hefty prices are rewards for hefty expenses, traditionally identified as all of the research and development spending that contributes to the cost of inventing and developing blockbuster drugs. Pharma’s R&D costs are relatively lofty compared to other industries and may amount to about 17% of revenue — a figure surpassed only, perhaps, by the R&D spending of semiconductor manufacturers and some other tech companies.A Tufts University study published in 2016 said it costs, on average, about $2.6 billion to develop a drug that wins the federal government’s marketing blessing. The Tufts research group that prepared the study receives a significant portion of its funding from the industry, and its estimate was based on an analysis of 106 randomly selected drugs that 10 pharmaceutical companies tested on human subjects between 1995 and 2007.Public Citizen, a consumer advocacy group, has fileted the Tufts study, saying only $1.4 billion of the $2.6 billion figure represents actual developments costs (with the other $1.2 billion accounted for as opportunity costs incurred by not pursuing other investments). Public Citizen said that even the $1.4 billion figure contained inflated assumptions about expenditures, derived in part from a focus on only the most expensive drugs. It said the Tufts study didn’t fully account for generous government grants that typically provide, perhaps, as much as a fifth of pharma companies’ research spending. Pharmaceutical companies also often enjoy monopoly pricing and have used patent laws to keep competitors at bay.Sometimes, Big Pharma just buys pre-developed drugs, which means its R&D costs are even less substantial. For example, more than a decade ago, an Emory University professor who was also a government researcher developed a treatment for hepatitis C. He set up a small firm to develop the drug further. After more progress was made a big biotech firm came along in 2011 and bought the startup for $11 billion. That buyer was Gilead.Gilead priced its hepatitis C treatment, Sovaldi, at $84,000, allowing it to recoup most of the billions it spent buying the launch-ready drug by the end of the first year it went on sale. Sovaldi’s sky-high price, and Gilead’s pricing practices, subsequently became hot-button issues. Deploying the same argument it later used to defend remdesivir’s price, Gilead said Sovaldi’s rich price was warranted because the drug helped hospitals and patients spend less, overall, on treatments.Public Citizen has criticized Gilead for how it’s now pricing remdesivir, pointing out that it received $70 million in public funds to develop the drug. Gilead says it will have spent $1 billion developing and distributing remdesivir by the end of this year. A nonprofit group that assesses how drugs are priced, the Institute for Clinical and Economic Review, or ICER, said Gilead demonstrated “restraint” by setting a “responsible” price for remdesivir. As my Bloomberg Opinion colleague Max Nisen has already pointed out, advocating a rock-bottom price for remdesivir that merely allows it to recover development costs is unreasonable — and possibly misguided if it undermines further private-sector incentives to pursue innovative research.Still, the pharmaceutical industry has been stubbornly opaque about how much it truly spends developing drugs. It has successfully lobbied for years against regulations and revised accounting standards that might force it to be more transparent about how much all of its recipes cost.As STAT, a health-care news site, has observed, ICER had a very elastic grip of Gilead’s costs and pricing for remdesivir. If remdesivir doesn’t end up saving lives, ICER said the drug might be worth just $310. It also pointed out that to recoup its expenses developing the drug, Gilead could charge anywhere from $10 to $1,600 per patient — a huge range that doesn’t instill confidence about how well outsiders truly understand Gilead’s costs.And, again, that’s the core problem: There isn’t enough transparency in the pharmaceutical industry. Until the industry is far more open about its true costs, there’s no reason to take it at its word when it discusses expenses.Stonewalling critics might have worked in the past, when the importance of public health could be shunted aside or the threat of pandemics seemed less apparent. Now that Covid-19 has taught the world that some diseases are freighted with economic and national security threats and have the capacity to expose social injustices along the way, figuring out fair drug prices probably won’t be left to private companies, investors and captive regulators alone.A more muscular role for the federal government in drug development may lie ahead and Big Pharma may come to be seen and treated like a public utility — with all of the regulation and transparency that entails. Prices, in a post-pandemic world steeling itself against future pandemics, might not be set according to what the market will bear and what drug companies can get away with.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Timothy L. O'Brien is a senior columnist for Bloomberg Opinion.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Reuters
WRAPUP 1-World takes stock of COVID-19 drug remdesivir after U.S. snaps up supplies
Some governments in Europe and Asia said on Wednesday they have enough of Gilead's COVID-19 anti-viral remdesivir for now despite fears of shortages since the U.S. drugmaker pledged most output to its home market for the next three months. Remdesivir is in high demand after the intravenously-administered medicine helped shorten hospital recovery times in a clinical trial.
- Reuters
UK emergency remdesivir supplies adequate to treat COVID-19, official says
Britain has adequate supplies of Gilead's remdesivir for emergency use to treat hospitalised COVID-19 patients, England's deputy chief medical officer said on Wednesday, though he warned of potential difficulties securing future supplies. "I judge us to have adequate stocks," Jonathan Van-Tam, deputy chief medical officer and lead for the Department for Health and Social Care, told a parliamentary hearing.
- Business Wire
Gilead Sciences Demonstrates Commitment to Scientific Innovation In HIV With New Prevention, Treatment and Cure Research Data Presented At AIDS 2020: Virtual
Gilead Sciences, Inc. (Nasdaq:GILD) today announced that new data from the company’s HIV research and development program will be presented at the 23rd International AIDS Conference (AIDS 2020: Virtual) from July 6-10. The breadth of data presented at the meeting, along with Gilead-led symposia and workshops, reflect the company’s commitment to advancing the scientific understanding of HIV prevention, treatment and cure strategies.
- Reuters
EU in talks with Gilead to get remdesivir doses for EU countries
The European Commission said on Wednesday it was in negotiations with Gilead Sciences Inc to obtain doses of COVID-19 antiviral remdesivir for the 27 European Union countries. The Commission said it took note of the announcement that the United States had secured nearly all of Gilead's projected production capacity for the next three months.
- Zacks
Biotech Stock Roundup: GILD Prices Remdesivir, VXRT Rises, ICPT Plunges & More
The biotech sector remains in focus with updates on coronavirus treatments and other pipeline developments.
Reuters VideosS.Korea talks COVID-19 drug, U.S. buys most stocks
South Korea has started distributing stocks of the COVID-19 treatment remdesivir that were donated by the drugmaker Gilead Sciences -- after the United States secured nearly all of its supply of the drug over the next three months. Speaking at a news conference, the director of the Korea Centers for Disease Control and Prevention said South Korea plans to begin talks to purchase more supplies in August -- making it the first country to disclose a timeline for talks with Gilead. Remdesivir is expected to be in high demand as one of the few treatments shown to alter the course of COVID-19. But the U.S. has already secured more than 500,000 treatment courses of the drug -- which represents 100% of Gilead's projected production for July and 90% in August and September. The intravenously administered medicine has won emergency-use authorization in several countries and full approval in Japan after a clinical trial showed it helped shorten hospital stays. Gilead said this week it has priced remdesivir at $390 per vial in developed countries and based on current treatment patterns, a course of remdesivir equates to $2,340 per patient. The price has been a topic of intense debate since U.S. regulators approved its emergency use in some COVID-19 patients in May. Experts have said Gilead would need to avoid appearing to take advantage of a health crisis for profits. The European Union's healthcare regulator last week recommended conditional approval of the drug when used in the critically ill. The formal go-ahead by the European Commission is expected to follow soon. Gilead has linked up with generic drugmakers based in India and Pakistan, including Cipla Ltd and Hetero Labs Ltd, to make and supply remdesivir in 127 developing countries.
- Yahoo Finance Video
Pfizer, BioNTech vaccine shows positive results: RPT
Yahoo Finance’s Anjalee Khemlani joins The First Trade to break down the latest headline news about the coronavirus, including Pfizer’s recently released phase 1 data.
ReutersGermany for now has enough remdesivir for COVID-19 therapy -govt
Germany has for now secured enough supplies of remdesivir, which is set to become the first COVID-19 treatment approved in Europe, and is banking on developer Gilead to meet future needs, the country's health ministry said on Wednesday. With a conditional market approval, which is expected to be issued by the EU Commission this week, comes an obligation to deliver sufficient quantities in the future, it added.
- Zacks
Gilead Prices Coronavirus Drug Remdesivir at $390 Per Vial
Gilead (GILD) prices experimental coronavirus drug, remdesivir, at $390 per vial.
- Business Wire
Low Voltage Automotive Buck Converter from Diodes Incorporated with Programmable PFM/PWM for Enhanced Efficiency
Diodes Incorporated (NASDAQ: DIOD) today announced the AP61100Q, a 5.5V, 1A continuous output current, automotive-compliant, synchronous buck converter for point of load (POL) applications. With a fully integrated 110mΩ high-side power MOSFET and 80mΩ low-side power MOSFET, it provides high-efficiency step-down DC-DC conversion from 5V and 3.3V input rails. The converter has been developed for use in automotive applications including infotainment systems, instrumentation clusters, telematics, and advanced driver assistance systems (ADAS).
- Reuters
PRESS DIGEST- New York Times business news - June 30
- Reddit, one of the largest social networking and message board websites, on Monday banned its biggest community, The_Donald, devoted to U.S. President Donald Trump as part of an overhaul of its hate speech policies. - Uber Technologies Inc has made a takeover offer to buy Postmates Inc, the upstart delivery service, according to three people familiar with the matter, as the on-demand food delivery market consolidates and Uber looks for new ways to make money. - The administration of U.S. President Donald Trump placed new restrictions on U.S. exports of defense equipment and certain high-technology products to Hong Kong on Monday, in response to a new Chinese law aimed at tightening Beijing's control over the territory.
- Zacks
Gilead Sciences (GILD) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Gilead Sciences (GILD) closed at $74.56, marking a -0.01% move from the previous day.
- Reuters
US STOCKS-Wall St ends higher on Boeing bump, stimulus eyed
Wall Street stocks closed higher on Monday and the S&P 500 was poised to clinch its biggest quarterly percentage gain since 1998 as investors hoped for a stimulus-backed economic rebound, while a surge in Boeing shares helped boost the blue-chip Dow. The planemaker's shares jumped more than 14% after a 737 MAX took off on Monday from a Seattle-area airport on the first day of certification flight testing with U.S. Federal Aviation Administration and company test pilots, a crucial moment in Boeing's worst-ever crisis. A spike in virus infections in Southern and Western states last week sent the S&P 500 down nearly 3%, but the threat of a deeper-than-feared recession has led investors to expect more stimulus measures from the Federal Reserve or Congress.
- Reuters
US STOCKS-Wall St gains on Boeing bump, remdesivir hopes
Wall Street climbed on Monday and the S&P 500 moved closer to clinching its biggest quarterly gain since 1998 as investors clung to hopes of a stimulus-backed economic rebound, while Boeing shares shot higher to help boost the blue-chip Dow. The planemaker's shares jumped 10.2% after a 737 MAX took off on Monday from a Seattle-area airport on the first day of certification flight testing with U.S. Federal Aviation Administration and company test pilots, a crucial moment in Boeing's worst-ever crisis. A spike in virus infections in Southern and Western states last week sent the S&P 500 down nearly 3%, but the threat of a deeper-than-feared recession has led investors to expect more stimulus measures from the Federal Reserve or Congress.
- Yahoo Finance Video
ER physician on Remdesivir COVID-19 treatment: 'I worry this will be a very expensive endeavor'
Dr. Jeremy Faust, ER Physician at Brigham and Women’s Hospital in Boston & Harvard Medical School Instructor joins Zack Guzman to address how hospitals are handling the coronavirus crisis.
- Bloomberg
Gilead Sets a Good-Enough Bar With Covid-Treatment Price
(Bloomberg Opinion) -- Pricing a new medicine aimed at taming a pandemic is one of the touchiest scenarios imaginable for a drug company. Set the price too high, and the world will assail you for price gouging. Too low, and you risk bleeding money and investors. No decision will ever make everyone happy, but Gilead Sciences Inc.'s price for its Covid-19 treatment remdesivir is a solid attempt.According to details released by Gilead on Monday morning, a five-day course of remdesivir will cost about $2,340 in developed nations, including U.S. plans administered by the government. Private insurers will pay a steeper $3,120 in America. Developing nations will pay significantly less after Gilead in May decided to let generic drugmakers make a cheaper version of remdesivir for low-income nations that could cost as little as $600 a course.The developed-world price will attract critics, and the price gap with generics will grate. However, it's substantially lower than what Gilead could charge. Not maximizing profit in a pandemic is a low standard, but it’s a good sign that the first drugmaker to the finish line cleared it. There's no set formula for pricing medicines; drugmakers often charge what they think will be most profitable in different markets. A pandemic throws the usual priorities into disarray. Any effective medicine is dramatically more valuable, given enormous demand, but that same demand creates an imperative to avoid pricing that makes the drug less accessible. Meanwhile, companies also have to pour extra resources into development and expanding supply. Gilead, for instance, may spend as much as $1 billion on remdesivir this year. So it’s a tricky balance.Some argue for a price that doesn't do much more than recoup input costs. Given the need to incentivize further rapid research on treatments, that's an unrealistic and arguably misguided expectation. The Institute for Clinical and Economic Review (ICER) — an independent group that does cost-effectiveness analysis on medicines — has suggested that a reasonable price range for a full course of remdesivir ranges from $4,580 to $5,080, well above where Gilead settled on.Gilead's pricing looks less generous, though, without a somewhat optimistic read of the data. ICER's base calculations don't account for broad use of the potentially life-saving steroid dexamethasone and assume that remdesivir prevents deaths, something that hasn't been conclusively proven. Without those assumptions, its estimated fair price drops significantly, to as little as $310. What’s more, though a Gilead study suggests five days of infusion may be as good as a longer course, some patients may get a full 10 days, increasing the effective price.In an open letter published Monday about the pricing decision, Gilead CEO Daniel O'Day wrote that the drug's ability to reduce hospital stays by four days equates to savings of $12,000 per patient in the U.S. By that analysis, which excludes any other benefits, the drug is priced well below its value and likely cost in a less fraught environment. The letter is pretty clearly an effort to anchor the debate in a way that flatters Gilead; America's wildly inflated hospital prices are perhaps not the best pricing benchmark.This is still the sort of analysis drugmakers routinely use to justify prices that leave ICER estimates in the dust. Gilead is clearly showing some degree of restraint, especially given that some analysts suggested a higher figure. The company may also have a limited window of peak sales. Demand is likely to fall off if a vaccine or better options arrive.There's no perfect price for medicine, especially right now. However, especially when you factor in the availability of generics in the parts of the world where the price is a bigger impediment to access, Gilead did a decent job of walking a difficult tight rope. The company set a bar that other drugmakers at least need to match, and hopefully will exceed. Anything less will be tough to justify. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Max Nisen is a Bloomberg Opinion columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Yahoo Finance
Coronavirus update: Global infections tops 10M; Gilead sets eye-popping remdesivir price
More than 10 million people worldwide have been infected with the coronavirus as of Monday, with over half a million dead as the U.S. struggled to contain a spike in infections.
- Zacks
GILD vs. ILMN: Which Stock Should Value Investors Buy Now?
GILD vs. ILMN: Which Stock Is the Better Value Option?
- Yahoo Finance Video
Gilead prices COVID-19 drug Remdesivir at over $3,000 with insurance
As the country begins to pullback on reopenings, U.S. coronavirus cases continue to surge. Yahoo Finance’s Anjalee Khemlani weighs in.
- Reuters
US STOCKS-Wall St gains as investors pin hope on stimulus-powered rebound
Wall Street's main indexes inched up on Monday following a sharp selloff last week, as investors clung to hopes of a stimulus-backed economic rebound even as coronavirus cases surged, while a jump in Boeing shares boosted the blue-chip Dow. The planemaker rose 7.3% after the Federal Aviation Administration confirmed on Sunday it had approved key certification test flights for the grounded 737 MAX that could begin as soon as Monday. "The market is taking a tremendous amount of comfort in the fact that as long as we contain the virus, the economy is going to recover very fast and you're going to see cyclical stocks start to rally again," said Thomas Hayes, managing member at Great Hill Capital LLC in New York.
- Yahoo Finance Video
Major indices open mixed amid a surge in coronavirus cases
Mike Ryan, UBS Wealth Management Americas Chief Investment Officer, Yahoo Finance’s Brian Sozzi and Jared Blikre to discuss the latest market action.
