GILEAD SCIENCES, INC.

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Delayed Nasdaq  -  05/13 04:00:00 pm EDT
62.37 USD   -0.18%
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Gilead says counterfeiting network sold $250 mln worth of its HIV drugs

01/18/2022 | 01:23pm EDT

Jan 18 (Reuters) - Gilead Sciences Inc said on Tuesday that tampered and counterfeit versions of its HIV treatments worth $250 million were sold to pharmacies over two years by a network of drug distributors and suppliers.

The drugmaker said in August that distributors not authorized by Gilead to sell its HIV treatments, Biktarvy and Descovy, have sold counterfeits to pharmacies where genuine Gilead bottles have been tampered with a counterfeit foil induction seal or label and contain incorrect tablets.

"After becoming aware of counterfeit Gilead HIV medication being distributed we notified federal law enforcement authorities, including the FDA, as well as dispensing pharmacies, and then took direct and urgent legal action," a Gilead spokesperson said on Tuesday.

Gilead said the distributors, against whom it had filed a lawsuit, had sold 85,247 bottles of counterfeit HIV drugs.

(Reporting by Manas Mishra in Bengaluru; Editing by Amy Caren Daniel)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
GILEAD SCIENCES, INC. -0.18% 62.37 Delayed Quote.-14.10%
ON SEMICONDUCTOR CORPORATION 6.04% 56.18 Delayed Quote.-17.29%
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Financials (USD)
Sales 2022 24 576 M - -
Net income 2022 4 250 M - -
Net Debt 2022 16 479 M - -
P/E ratio 2022 18,1x
Yield 2022 4,66%
Capitalization 78 232 M 78 232 M -
EV / Sales 2022 3,85x
EV / Sales 2023 3,75x
Nbr of Employees 14 400
Free-Float 99,9%
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Number of Analysts 27
Last Close Price 62,37 $
Average target price 70,24 $
Spread / Average Target 12,6%
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Managers and Directors
Daniel P. O'Day Chairman & Chief Executive Officer
Andrew D. Dickinson Chief Financial Officer
Merdad V. Parsey Chief Medical Officer
Flavius Martin Executive Vice President-Research
Brett A. Pletcher Secretary, Chief Compliance Officer & Executive VP
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