Healthcare company Gilead Sciences, Inc. (GILD) benefited significantly during the pandemic as it developed the first antiviral drug approved to treat COVID-19. However, with declining covid cases, GILD’s popular covid product Veklury’s (Remdisivir) sales decreased 51.9% year-over-year to $925 million for the third quarter ended September 2022.
However, GILD beat consensus revenue and EPS estimates for the quarter. Analysts expected GILD’s revenue and EPS to come in at $6.13 billion and $1.43. GILD surpassed forecasts by 14.8% and 32.9%, respectively.
