Gilead Sciences, Inc. (GILD) Chief Becomes Billionaire On $84,000 Hepatitis Drug
3/4/2014 8:01:00 AM
John C. Martin, the chief executive officer of Gilead Sciences Inc. (GILD), has become a billionaire on the prospects of a powerful new hepatitis C drug that’s attracting scrutiny from payers and activists over its $1,000 per pill price tag. Gilead’s drug, Sovaldi, was approved in December, and is among the first of a new wave of hepatitis C treatments that can cure the liver disease faster and more reliably than previous drugs. Sovaldi, which costs $84,000 for a 12-week course of treatment, is expected to produce $4.2 billion in revenue this year, rising to $8.1 billion in 2015, according to the average estimate of 13 analysts surveyed by Bloomberg.
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