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Gilead Stock Slumps As Long-Term Uncertainty Clouds Massive HIV Beat
Gilead Sciences’ (GILD) highly anticipated HIV prevention drug, Yeztugo, beat second-quarter expectations late Tuesday, allaying analysts’ concerns over soft prescription trends. However, Gilead stock toppled Wednesday. The Street’s focus landed on HIV treatment powerhouses Biktarvy and Descovy. The duo “beat considerably, even if helped somewhat by pricing and favorable inventory … and seasonal dynamics,” RBC Capital Markets analyst Brian Abrahams…
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