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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Gilead Sciences reported a quarterly loss for Q2 driven by high research and development costs, despite seeing growth in its HIV drug sales. The company lowered its full-year forecast for Veklury after sales of the treatment plummeted 81% during the second quarter. Additionally, the California Supreme Court issued a landmark ruling shielding Gilead from liability related to drug development. This decision protects the company even in instances where safer alternatives to its medications may have existed.