Pretax profits fall 9.5% at giant HIV/Aids drug-maker in Cork

Pretax profits at the main Irish arm of pharma giant Gilead, slipped last year by 9.5 per cent to $14.9 million (€11 million) despite sales hitting $3 billion for the first time.

Gilead is the largest maker of HIV/Aids drugs globally and employs 240 people in Ireland where the firm’s Cork operation is the company’s main international distribution operation.

Pretax profits at its main Irish unit, Gilead Sciences Ltd, fell to $14.9 million from $16.5 million in 2012. Revenue increased 5.5 per cent from $2.9 billion to $3 billion.

Sales recorded at the Irish unit accounted for 31 per cent of Gilead’s global revenues of $9.7 billion last year. The directors’ report states that “sales growth for the year is primarily due to an increase in the volume of sales of HIV products”.

Gilead’s blockbuster HIV drug, Atripla, which last year generated sales of $3.57 billion, is made in Cork. It provides a combination of three medicines to HIV/AIDS patients in a single daily pill.

Another HIV drug, Truvada manufactured in Cork generated $3.18 billion in sales last year. Other HIV/Aids medicines made in Cork include Viread, Emtriva and Eviplera.