Gilead Sciences (GILD) Harvoni TRx Up 1.1%, Leerink Notes; Launch Trending Slightly Ahead of Sovaldi

Leerinkg Partner analyst Howard Liang discussed IMS script data for Gilead Sciences' (NASDAQ: GILD) Harvoni, noting the launch is now trending slightly ahead of Sovaldi.

Liang commented, "IMS started to report Harvoni TRx on the week of Oct. 17, 2014, following approval on Oct.10, 2014. TRx for the week were 10,262 (4,135 were NRx), representing a 1.1% increase in TRx w/w and a 0.3% decrease in NRx w/w. This compares to TRx of 8,091 for Sovaldi in the week 23 after launch. Based on current TRx, we calculate total revenue of $1.9B for 1Q:15 assuming full capture by IMS and 46% gross to net. If assuming flat TRx for the remainder of the quarter, total revenue would be $1.9B. The consensus estimate (post 4Q:14 earnings) for 1Q:15 is $1.9B."

Sovaldi total prescriptions were down week-over-week. "For the week, Sovaldi TRx were 1,935, representing a 4.0% decrease w/w after last week’s 1.4% decrease. New prescriptions (NRx) decreased by 0.1% w/w after last week’s 10.4% decrease. Based on current TRx, we calculate total revenue of $396M for 1Q:15 assuming full capture by IMS and 46% gross to net. If assuming flat TRx for the remainder of the quarter, total revenue would be $396M. The consensus estimate for 1Q:15 (post 4Q:14 earnings) is $820M."

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