Double-digit gains for CV drugs propels Gilead's Q2

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Gilead Sciences has reported strong results of its financial operations for the second quarter, which ended June 30.

The net income for the second quarter of 2010 was $712.1 million, compared with the net income for the second quarter of 2009 of $571.4 million, said the Foster City, Calif.-based company. The revenue for the second quarter of 2010 was $1.93 billion, up 17 percent compared with the revenue of $1.65 billion for the 2009 second quarter.

Its product sales increased 15 percent to $1.81 billion for the second quarter of 2010, compared with $1.57 billion in the second quarter of 2009, which Gilead said was driven primarily by its antiviral franchise, specifically for the HIV infection.

According to the company, sales of ambrisentan (Letairis) for the treatment of pulmonary arterial hypertension increased 37 percent to $60.3 million for the second quarter of 2010, up from $44.1 million for the second quarter of 2009, driven primarily by sales volume growth in the U.S.

Gilead said its sales of ranolazine (Ranexa) for the treatment of chronic angina increased 68 percent to $60.5 million for the second quarter of 2010, up from $36.1 million for the second quarter of 2009, driven primarily by sales volume growth in the U.S. Ranexa sales for the second quarter of 2009 began on April 15, 2009, the date Gilead acquired CV Therapeutics.