Gilead Sciences reported $27.3 billion in year-end revenue for 2021, anchored by sales of its COVID-19 therapeutic remdesivir, known by the brand name Veklury.
The drugmaker released its fourth quarter and 2021 financial results Feb. 1.
Gilead reported $1.4 billion in sales for Veklury in the fourth quarter of 2021, a decrease of about 30 percent from the same quarter in 2020. However, full-year revenue for Veklury hit $5.6 billion in 2021, a 98 percent jump from 2020 revenue.
Gilead said Veklury sales closely align with COVID-19 hospitalization trends in the U.S. The drugmaker said it expects hospitalization rates to fall in 2022 but is still projecting $2 billion in Veklury sales this year.
The FDA approved Veklury for use in all hospitalized COVID-19 patients 12 and older in October 2020. On Jan. 21, the agency authorized use of the drug in nonhospitalized patients with mild to moderate COVID-19 who have a high risk of their cases becoming severe.