Gilead Sciences' Revenue and Earnings Slip in Second Quarter
On the surface, Gilead Sciences' (NASDAQ: GILD) second quarter was ugly. Sales decreased 10% in the second quarter to $5.1 billion, with Gilead's hepatitis C drug franchise contributing to most of the decline, down a whopping 47% year over year. Sales of Gilead's HIV franchise, which has been the backbone of the biotech, fell 1% in the second quarter.