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Gilead Sciences Gains On Agreement With Generic Manufacturers

Gilead Sciences, Inc. (GILD) shares are trading more than 3 percent higher on Monday morning after the company announced that it has entered into agreements with generic manufacturers such as Lupin Ltd., Apotex Inc., Macleods Pharma Ltd., Hetero Labs Ltd., and Cipla Ltd. to resolve the litigation and patent challenges associated with Descovy, Vemlidy, and Odefsey in the U.S. District Court for the District of Delaware.

The company noted that the agreements grant the generic manufacturers a non-exclusive license in the United States to the Company's patents on tenofovir alafenamide relating to Descovy and Vemlidy beginning on October 31, 2031, and to Odefsey beginning on January 31, 2032, or earlier.

Currently, shares are at $67.93, up 4.06 percent from the previous close of $65.28 on a volume of 8,319,430.

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