Gilead Sciences Inc. (NASDAQ:GILD) is the single reason why the biotech market is still doing business. At a time when the market was on a downward spiral, Gilead Sciences Inc. (NASDAQ:GILD) came to its rescue by making enormous sales and by attracting investors, making the market mainstream as the pharmaceutical industry. Now Gilead Sciences Inc. (NASDAQ:GILD) has become a multinational biotech company that rolls out billions at the end of each quarter. The drugs it manufactures are famous for their effectiveness, more than any other drugs on the market. The company has strong associations and strong equity in the market.
Both Sovaldi and Harvoni have been making enormous business for Gilead Sciences Inc. (NASDAQ:GILD) on the market. These drugs have been attracting investors ever since they were manufactured, tested out and approved by the FDA. These two drugs started the revival of the biotech industry. Now these two drugs are the most valued commodities in the market. But times are changing and competition in the industry is getting fierce. AbbVie Inc. (NYSE:ABBV) has sharpened its teeth and is now a serious competitor on the market. It’s as good as Gilead Sciences Inc. (NASDAQ:GILD) and its business is stable and steady. The company might find itself at a loss of new products as compared to AbbVie Inc. (NYSE:ABBV) which is rolling out new products almost every other year. The investors prefer AbbVie Inc. (NYSE:ABBV) because it has more vitality as compared to the veteran Gilead Sciences Inc. (NASDAQ:GILD).
But Gilead Sciences Inc. (NASDAQ:GILD) can’t be written off just as yet. The company knows all the tricks of the trade and there are numerous drugs in the pipeline which will be tested out and if they get approval from the FDA, the company will be as good as new. Till then, Gilead Sciences Inc. (NASDAQ:GILD) will have to find itself a spot so that its finances keep running; otherwise it’ll grow stale as compared to the growth of AbbVie Inc. (NYSE:ABBV).
Gilead Sciences Inc. (NASDAQ:GILD) has been striking associations with different companies in a bid to capitalize on their products and create a mixture of drugs formed from the inventories of both the companies, which have proved to be vital for eliminating various diseases. The company is also looking to replenish its waning sales which have been forecasted by biotech gurus on the market. It hasn’t disappointed its investors yet but it is certainly growing slow as compared to its rival AbbVie Inc. (NYSE:ABBV).
Gilead Sciences Inc. (NASDAQ:GILD) wouldn’t go down that easily. It has tricks up its sleeves which the rival companies don’t expect, which it will reveal later on when the drugs get FDA approval. The pipeline of the company is still strong enough to match any company on the market. Therefore, Gilead Sciences Inc. (NASDAQ:GILD) can’t be written so soon, not when the biotech market is still doing business. The company will last as long as the whole industry lasts, for it has been the only company that contributed to biotech market’s revival.
