Feb 5, 2021 - Health
Gilead raked in $2.8 billion from remdesivir in 2020
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%.