By Kathryn Hardison


Gilead Sciences Inc. raised its full-year guidance on Tuesday for total product sales and adjusted earnings per share, while it cut its outlook for earnings per share.

Gilead said it expects total product sales between $24.5 billion and $25 billion for the year, compared to its guidance issued in February for between $23.8 billion and $24.3 billion in sales.

It also expects total product sales, excluding Veklury, between $22 billion and $22.5 billion, compared with its previous outlook for sales between $21.8 billion and $22.3 billion. Veklury sales are expected to be roughly $2.5 billion, up from its initial outlook of $2 billion.

Gilead expects earnings to be between $2.90 and $3.30 a share, and between $6.35 and $6.75 a share on an adjusted basis. That's cut from its previous outlook in April of earnings between $3 and $3.50 a share, while its adjusted earnings guidance is up from its February outlook of between $6.20 and $6.70 a share.

Gilead recorded a small boost in second-quarter revenue, exceeding Wall Street expectations, as demand for its HIV and oncology treatments offset decreased sales for its Covid-19 treatment and other therapies.


Write to Kathryn Hardison at kathryn.hardison@wsj.com


(END) Dow Jones Newswires

08-02-22 1649ET