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Gilead earnings miss estimates

Gilead Sciences Inc. missed analyst estimates within the first quarter as gross sales of its hepatitis C medicine fell sooner than anticipated, sending shares tumbling about 6 p.c in after-hours buying and selling.

The Foster Metropolis biotech big introduced in $5.1 billion in income final quarter, in contrast with the $5.four billion analysts had anticipated on common, the corporate reported Tuesday. Adjusted earnings have been additionally decrease than anticipated, at $1.48 per share in contrast with estimates of $1.66.

The shares fell to as little as $67.89 in in New York.

The miss was pushed partially by declining income from Gilead’s hepatitis C remedies, which introduced in $1.05 billion, in contrast with the $1.

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