Could Gilead's COVID-19 Drug Make $7 Billion Per Year?
SVB Leerink analyst Geoffrey Porges has changed his mind about Gilead Sciences' (NASDAQ: GILD) COVID-19 drug, remdesivir. Less than six weeks ago, he wrote to clients that remdesivir had "limited economic value to the company and the stock." Now, though, Porges thinks Gilead's COVID-19 treatment could be a tremendous commercial success.
The analyst projects that remdesivir will generate sales of $2 billion this year and rake in $7.7 billion in 2022. After that, he expects the antiviral drug could make between $6 billion and $7 billion annually.
Based on Porges' prediction, Gilead should be poised to deliver impressive revenue growth over the next few years. But is he right?
Source Fool.com
