Gilead lower on Sovaldi scripts data, pricing worries

|About: Gilead Sciences, Inc. (GILD)|By:, SA News Editor

Total Sovaldi (GILD -1.7%) prescriptions for the week ending May 16 amounted to 8,091 (-10.6% from the prior week), according to IMS data. New prescriptions fell 11.5% to 3,445.

The numbers come amid an insurer backlash to Sovaldi's price tag ($84K for a 12-week course). In a blog post, insurer AHIP accuses Gilead of pricing Sovaldi "at an astronomical level that is not sustainable for consumers, innovation, or society."

Wells Fargo (Outperform) isn't too worried about the IMS data. Though expecting Sovaldi demand to slow a bit as the year progresses, it still thinks the drug's 2014 U.S. sales could approach $9B.