Gilead Bounces Back From Rough First Quarter

Gilead Sciences Inc. beat the street with second quarter earnings of $2.14 billion, led by HIV drug Atripla revenues of $822 million. Gilead's antiretrovirals bounced back from a weak first quarter, with renewed growth in AIDS Drug Assistance Program (ADAP) purchasing and increased demand in the EU from seasonal government purchasing. Gilead is looking forward to results from its two Phase III QUAD trials in the third quarter, which are expected to add value to the HIV franchise.