Photodisc/Thinkstock(NEW YORK) — Sovaldi, a relatively new hepatitis C drug approved by the FDA in December 2013, far surpassed all estimates by raking in nearly $2.3 billion in revenue in the first quarter of the fiscal year.
Bloomberg News reports that California-based Gilead Sciences Inc. beat its expected profit by $1 billion. The drug, which costs $1,000 per pill, was among the most financially successful drug introductions in history.
Sovaldi is meant to be taken with other existing drugs to treat the main forms of hepatitis C. The new drug works faster and is much simpler to take, HealthDay News says.
About 3.2 million Americans suffer from hepatitis C, which can destroy the liver if left untreated. HealthDay News says that people born between 1945 and 1965 are five times as likely to have hepatitis C.
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