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Stock impact report

Gilead: The Next Shoe To Drop [Seeking Alpha]

Gilead Sciences, Inc. (GILD) 
Last gilead sciences, inc. earnings: 4/30 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.gilead.com
Company Research Source: Seeking Alpha
SummaryGILD lost a patent infringement suit to BMY pursuant to Yescarta.The ruling requires GILD to pay $1.2 billion in damages and royalties on future Yescarta sales.Yescarta was expected to be a catalyst for the stock. That narrative has likely changed.If remdesivir does not receive FDA approval to treat COVID-19, then the growth story could be over for now.The Yescarta ruling was the next shoe to drop. GILD remains a hold for now.Source: Barron'sGilead (In quick succession, Gilead Sciences has not only lost an early attempt to overturn a massive CAR-T patent infringement verdict, but now a judge has also ordered hundreds of millions of enhanced damages for plaintiff Bristol Myers Squibb.Judge Philip Gutierrez in California expanded the total verdict to $1.2 billion from a prior award of $752 million. Bristol's Juno Therapeutics unit, which it picked up in its recent Celgene deal, has been battling with Gilead's Kite Pharma over research that went into the cancer drug Yescarta and p Show less Read more
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