Gilead Sciences Inc. (NASDAQ:GILD) Q4 2014 Earnings Conference Call - Final Transcript

Feb 03, 2015 • 04:30 pm ET


Gilead Sciences Inc. (NASDAQ:GILD) Q4 2014 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing-by and welcome to the Gilead Sciences' Fourth Quarter, 2014 Earnings Conference Call. My name is Janney, and I will be your conference operator today. (Operator Instructions). I would now like to turn the call over to Patrick O'Brien, Vice President of Investor Relations. Please go ahead sir.

Patrick O'Brien

Thank you, Janney and good afternoon everyone. As you will have seen we issued a press release earlier this afternoon and our earnings results for the fourth quarter and fiscal year 2014. The press release along with detailed slides is available on the Investor Relations section of our Web site. Speaking on the call today will be John Martin, our Chairman and Chief Executive Officer; Paul Carter, our Executive Vice President of Commercial Operations; and Robin Washington, Executive Vice President and Chief Financial Officer. Also in the room with us for Q&A, are John Milligan, President and Chief Operating Officer; and Norbert Bischofberger, Executive Vice President of Research & Development.

Before we begin our formal remarks, let me remind you that we will be making ( Forward Looking Cautionary Statements). I will now turn the call over to John Martin.

John Martin

Thank you, Patrick and thank you all for joining us today. I will mention a few highlights for the past quarter and then make brief remarks about the year ahead before turning the call over to Paul.

2014 was marked by the launch of our first oncology product Zydelig, our second Hepatitis C product Harvoni, regulatory filings for the next-generation HIV medicine E/C/F/TAF and a doubling of product revenues relative to 2013. We are entering 2015 with financial strength, a portfolio of 19 marketable products that address significant unmet medical needs and a pipeline for which we expect a number of milestones and data readouts during the coming year.

Regarding HCV since the launch of Sovaldi in December 2013 and Harvoni in October 2014.

John Martin

more than 170,000 individuals around the world have been treated with the sofosbuvir-based regimen.

Harvoni has become the most widely used Hepatitis C regimen since its approval in October 2014 and prescription data at year-end indicate that for each Sovaldi patient, three patients started therapy with Harvoni. Gilead continues to investigate the use of Harvoni in different patient groups, including non-genotype 1 infected patients and HIV co-infections and in patients with advanced liver disease. Data from these studies support the utility of Harvoni in these patient populations and the results will be presented at upcoming scientific conferences.

In addition to sofosbuvir we are exploring other potent pan-genotypic agents. A single-tablet of sofosbuvir and GS-5816 is currently being evaluated in four Phase III studies and top-line data from all these studies will be available in the third quarter of this year. Moreover, we are exploring GS-9857 a pan-genotypic protease inhibitor in combination with sofosbuvir and GS-5816 to potentially further reduce treatment duration from eight to 12 weeks to four to six weeks.

Even though great progress has been made in the treatment of HCV