You'll Be Stunned by Gilead Sciences CEO's Prediction for 2018
No, this isn't one of those clickbait articles you've no doubt seen way too many times. Gilead Sciences (NASDAQ: GILD) CEO John Milligan actually did make a prediction about 2018. And it really was stunning, at least considering the context of where the company has been and is right now.
Gilead's revenue continues to plunge, with third-quarter sales dropping more than 13%. Its earnings are still sinking, too: The biotech reported an 18% year-over-year decline in net income in the third quarter. For quite a while, Gilead's management team has stated that they weren't sure when the root cause behind the company's deteriorating numbers, slumping sales for its hepatitis C virus (HCV) franchise, would stabilize.
But when Milligan was asked at the Credit Suisse conference held in Scottsdale, Ariz., on Tuesday if 2018 could be a flattening or stabilizing year, he replied that it could be. What he said in his response was even more surprising -- perhaps even shocking. Milligan thinks that next year could be "the beginning of a growth phase" for Gilead Sciences. What's behind Milligan's optimism?
Source: Fool.com
Gilead Sciences Inc Stock
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