Sovaldi generates $3.48B in Q2 sales

 Hepatitis C pill Sovaldi has posted $3.48 billion in second-quarter sales, which puts Foster City, Calif.-based Gilead Sciences, the maker of the drug, on track to become one of the top-selling pharmaceutical companies.

Gilead's second-quarter Sovaldi sales increased from $2.3 billion during the first quarter of this year — the first full quarter of sales since the drug's approval in December 2013. Analysts estimate Sovaldi will surpass $10 billion in sales this year, according to a report in The New York Times.

Since its approval, Sovaldi has been prescribed to more than 80,000 people in the U.S. and Europe, and the drug has a success rate of more than 90 percent. However, the Sovaldi's high price tag has drawn criticism from many, including lawmakers.

The typical 12-week drug regimen of Sovaldi costs $84,000, but some patients require the drug for a longer period of time. Guidelines also suggest taking the drug along with others, adding to the overall care costs.

Earlier this month, Sens. Ron Wyden (D-Ore.), chairman of the Senate Finance Committee, and Chuck Grassley (R-Iowa), the Judiciary Committee's ranking member, sent a letter seeking justification from Gilead for Sovaldi's hefty price tag.

"Given the impact Sovaldi's cost will have on Medicare, Medicaid and other federal spending, we need a better understanding of how your company arrived at the price for this drug," the senators wrote in the letter.

More Articles on Sovaldi:

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Lawmakers Question Why Sovaldi Costs $1k a Pill 
UnitedHealth Group Q1 Hepatitis C Drug Spending Reached $100M