Boston, MA 03/17/2014 (wallstreetpr) – Sovaldi from Gilead Sciences, Inc. (NASDAQ:GILD) expects to become one of the best-selling medicine to treat Hepatitis C virus (HCV). The successful launch of the product had significant impacts on company’s overall product sales.
Market
Around 2 million people in the U.S. suffer from Hepatitis C and the number will continue to rise with increasing infections through transmission (blood-to-blood transfusion). Though several medicines are available in the market, however, potential side effects have reduced the number to few drugs. As a result, companies are focusing on development of novel treatment options to treat with HCV.
Sovaldi
Sovaldi, one of such HCV treatment drug, got the approval from the U.S. Food and Drug Administration (FDA) in December 2013. The drug has higher efficiency and no instances of side effects. It also has 90% success rate and shorter duration compared to others which require one year treatment. Conversely, the drug has an affordability issue across the medical fraternity including patients and insurance providers. At present, the price of Sovaldi is at $84,000 for a 12 weeks treatment which is nearly impossible. But, the efficacy of the drug will have significant impact across the therapeutic market.
Potential Impact
Since its launch, Gilead Sciences, Inc. (NASDAQ:GILD) had already reported sales of $139 million, which is mainly driven by patients demand and efficiency in clinical trials. Furthermore, the FDA approved Sovaldi for combination therapy along with other agents for the treatment of Hepatitis C. By and large, the therapeutic market is optimistic on Sovaldi and expects that the drug will report sales of $8 billion by 2015.
Gilead Sciences, Inc. (NASDAQ:GILD) already dominates the HCV market with wide range of marketed products. And, Sovaldi will further improve its antiviral product sales. Company expects significant growth in revenue and earnings along with Sovaldi in the coming years.
