Gilead Sciences (GILD), a leading biotech company released a strong report for 3Q15. Revenue spiked 37% y-o-y to USD 8.3 bn, adjusted EPS soared 75% y-o-y to USD 3.22, outpacing expectations by 11%. Harvoni, a new drug to treat hepatitis C and launched in production early in 2014, became a revenue growth driver. Sales of Harvoni reached USD $3.3 bn, which is 40% of total revenue. Gilead Sciences’ management is upbeat about future and revised up revenue forecast for 2015 from USD 28-29 bn to USD 30-31 bn. Notably, the company has been criticized the high cost of drugs. For example, a course of treatment with Harvoni amounts to USD 84,000. But since there are no effective drugs analogous to Harvoni, the company will continue to make enormous profits from the sale of this drug. We are upbeat about the company’s shares and assign a Buy recommendation to the name in the mid-term. $GILD, Gilead Sciences, Inc. / 1440