Gilead Sciences Inc. (NASDAQ: GILD) stock surged to a new 52-week high at $106.69 recently on its fourth quarter of 2024 earnings release. After being asleep for so many years, the stock has finally found interest again, hitting price levels not seen in a decade. The medical sector company was mostly known in the mainstream over its much-publicized controversy involving Sovaldi in 2013, its $84,000 treatment for hepatitis C (hep C).
The 12-week treatment was the world’s first and only cure for hep C, but the cost made it prohibitive even for those with health insurance. Controversy over the $1,000 per pill drug eventually died down after a Senate Finance investigation and new competition from AbbVie Inc. (NYSE: ABBV) direct-acting antivirals (DAAs) in the following years.
