Gilead’s Covid-19 treat­ment Vek­lury props up first quar­ter gains amid $2.7B Trodelvy write­down

Gilead got a sales boost from its Covid-19 treat­ment for the first quar­ter — to the tune of $1.5 bil­lion. The like­ly tem­po­rary bump came just in time though as Gilead re­assessed its can­cer drug Trodelvy’s val­ue and took a $2.7 bil­lion R&D im­pair­ment charge.

The an­tic­i­pat­ed reck­on­ing for Trodelvy came af­ter a Phase III read­out last month that met its pri­ma­ry end­point, but left an­a­lysts ques­tion­ing the lack of de­tails. Gilead ac­quired the drug through its $21 bil­lion deal for Im­munomedics in 2020 with the hopes of shak­ing up the stan­dard of care for triple-neg­a­tive breast can­cer.

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