Feb 5, 2021 - Health

Gilead raked in $2.8 billion from remdesivir in 2020

Picture of boxes of remdesivir sitting on a counter

Photo: Sima Diab/Bloomberg via Getty Images

Gilead Sciences collected $2.8 billion of revenue in 2020 from its IV coronavirus treatment Veklury, also known as remdesivir.

The big picture: The pandemic has created a massive business that Gilead simply did not have before.

  • The company expects Veklury, a drug shown to have only modest benefits for patients, to generate up to $3 billion this year as the virus continues to spread.

Flashback: Gilead's gross profit margin on remdesivir sales to the government is about 90%.

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