Gilead Sciences Just Won Its Third FDA Approval in Less Than 4 Months. Is the Stock Still Underrating This Turnaround Play?
Gilead Sciences is branching out beyond its HIV franchise into oncology and immunology therapies.
Overview
Gilead Sciences (NASDAQ: GILD) has no major concerns about its HIV franchise until the next decade. That hasn't kept the pharmaceutical company from preparing for the loss of exclusivity for its legacy HIV therapies. Gilead has spent heavily on its pipeline, and that's paying off.
The company has received three Food and Drug (FDA) approvals over the past four months, and not coincidentally, its shares are up more than 21% so far this year, nearly doubling the S&P 500 index's rise. The most recent approval was on Aug. 27 for Bixlenvo as a daily pill to treat virologically suppressed adults with HIV.
Details
Prior to that, on June 24, Trodelvy received two new approvals to treat triple-negative breast cancer. On May 22, the FDA granted Hepcludex accelerated approval to treat chronic hepatitis delta virus (HDV) infection in adults without cirrhosis or with compensated cirrhosis.
Source
Originally published at www.fool.com.