Gilead Sciences, a biopharmaceutical company based in Foster City, Calif., reported net income of $3.5 billion on $7.3 billion in revenue for the fourth quarter of fiscal 2014, up from net income of $791 million on $3.1 billion in the same period of 2013.
Gilead's product sales fueled the significant increase in revenue and profit. Its total product sales for the fourth quarter of FY 2014 were $7.2 billion compared to $3 billion for the fourth quarter the year prior.
Driven by sales of hepatitis C drugs Sovaldi and Harvoni, Gilead's antiviral product sales skyrocketed in the fourth quarter of 2014 to $6.7 billion, up from $2.6 billion for the same period of 2013.
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