Gilead cuts hepatitis C drug price

Gilead Sciences Inc. (Nasdaq: GILD) impressed with sharply higher fourth quarter earnings of $2.18 per diluted share compared with $0.47 per diluted share in the year ago period but the company forecast full year revenue below expectations and announced discounts for its hepatitis C treatments. Shares of the biopharmaceutical plummeted $8.75 to close at $98.43.