Gilead Tops Forecasts on Sales of Remdesivir Covid-19 Treatment

Gilead Sciences Inc. posted third quarter earnings that easily beat expectations as revenue from its Covid-19 treatment surged thanks to the highly infectious delta variant. The company reported adjusted earnings per share of $2.65 versus analyst expectations for $1.77 a share. Sales of Veklury, a drug for Covid-19 also known as remdesivir, were more than triple analyst expectations. Gilead raised its earnings guidance for the year to a range of $7.90 to $8.10 a share from a previous range of $6.90 to $7.25 a share.