In February Gilead (GILD) received FDA approval for Biktarvy, a once daily single tablet regimen for the treatment of HIV:

Gilead Sciences, Inc. (NASDAQ:GILD) today announced that the U.S. Food and Drug Administration (FDA) has approved Biktarvy® (bictegravir 50mg/emtricitabine 200mg/tenofovir alafenamide 25mg, BIC/FTC/TAF), a once-daily single tablet regimen (STR) for the treatment of HIV-1 infection. Biktarvy combines the novel, unboosted integrase strand transfer inhibitor (INSTI) bictegravir, with the demonstrated safety and efficacy profile of the Descovy® (FTC/TAF) dual nucleoside reverse transcriptase inhibitor (NRTI) backbone, and is the smallest INSTI-based triple-therapy STR available.

Biktarvy is indicated as a complete regimen for the treatment of HIV-1 infection in adults who have no antiretroviral treatment history or to replace the current antiretroviral regimen in those who are virologically suppressed (HIV-1 RNA <50 c/mL) on a stable antiretroviral regimen for at least three months with no history of treatment failure and no known substitutions associated with resistance to the individual components of Biktarvy.

Descovy is already a blockbuster for Gilead. It is one of Gilead’s next generation TAF-based regimens, generating $365 million in Q4 2017 revenue, up 45% Y/Y.  Biktarvy could be Gilead’s next blockbuster. Leerink Partners analyst George Porges estimates Biktarvy could generate peak sales of up to $10 billion, with $1 billion coming in 2018. Consensus estimates intimate peak sales are around $6 billion.

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