Gilead Sinks on Lack of Forecast for Hepatitis C Drug
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Gilead Sciences Inc., the world’s largest maker of HIV medicines, declined to forecast 2014 revenue of its new hepatitis C drug, sending shares down.
Total sales this year may be $11.3 billion to $11.5 billion, not including the new medicine, Gilead said in a statement yesterday. The Foster City, California-based drugmaker fell 4.7 percent to $78.15 at the close, the shares’ biggest one-day decline since April.