Seeking Alpha

Oppenheimer positive on Gilead's HIV pipeline, despite FDA approval of Tivicay yesterday

  • Gilead Sciences (GILD +0.4%) gets a boost from positive comments out of Oppenheimer this morning.
  • The firm notes the FDA approved GSK's Tivicay, a competitor to GILD's HIV medicines, yesterday.
  • The approval doesn't come as a surprise, and although they consider it to be a meaningful competitor to GILD's HIV franchise, they believe physicians still strongly prefer Stribild, Complera, Atripla, or any regimen containing a Truvada backbone.
  • Despite the approval, Oppenheimer's thesis on GILD remains unchanged with a $70 price target.
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