Gilead Sciences notes from conference call: 190k US, 80k European patients have begun hepatitis C treatment since the beginning of this year
* Co repurchased $3.1 bln of stock (27.6 mln shares) at an average price of $110.63 during Q3; $11.1 bln of the January 2015 share repurchase program ($15 bln) remaining as of September 30, 2015
* Co continues to be pleased with the number of patients it is reaching with Sovaldi and Harvoni; total revs $4.8 bln, -2% from prior quarter, +70% from prior year
* In US:
- Co saw a gradual decrease in retail market, but less so in non-retail sector due to uptick from the VA
- 190k patients on treatment on a Gilead product since beginning of the year
- Payer restrictions still remain to varying degress; co expects restrictions could lessen over time as patient volumes become more predictable and payers recognize benefits of early treatment in less sick patients
- Number of warehouse patients has diminished; current uptake rates will be more reflective of rates going forward
* In Europe - strong demand for Harvoni, particularly in newly launched markets like Spain and Italy; 80k patients began treatment since the beginning of this year; Harvoni now recommended treatment in UK; co expects revs to be constrained by country-specific budgets rather than the number of patients;
* In Japan - co very pleased with launch; guidelines updated to make Harvoni/Sovaldi the first choice treatment
* Management still believes only a fraction of diagnosed patients have been treated so far, even in early launch markets