Gilead Sciences (GILD) Comments on Atripla Recall - Deutsche Bank

March 6, 2014 3:28 PM EST Send to a Friend
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Analyst Robyn Karnauskas of Deutsche Bank said Gilead Sciences' (Nasdaq: GILD) Atripla recall was not an issue. 39,233 bottles were recalled on Feb 19th because of red silicone rubber particulates found in drug, according to an FDA enforcement report.

"We have gotten many questions around Gilead's Atripla and the voluntary recall that posted to the FDA site. We spoke to mgmt and here is their take," said Karnauskas

"MGMT COLOR:

*On a typical quality check Gilead found small particles and proactively issued a voluntary recall of 39K bottles ONLY.
„
*Gilead took it upon themselves to contact the agency and issue the voluntary recall of these lots.

„*This is from their 3rd party manufacturer in China that only makes Atripla. Gilead has multiple manufacturers for Atripla.
„
*Management reiterates that this is a very minor issue The company has more than enough Atripla supply."

Deutsche Bank has a Buy rating on Gilead Sciences (NASDAQ: GILD) with a price target of $132.00.

For an analyst ratings summary and ratings history on Gilead Sciences click here. For more ratings news on Gilead Sciences click here.

Shares of Gilead Sciences closed at $82.87 yesterday.


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