Gilead's Ongoing Battle Against Counterfeit HIV Medications Persists With New Lawsuit, Seizes $750K In Fake Drugs
Portfolio Pulse from Vandana Singh
Gilead Sciences (NASDAQ:GILD) has filed a new lawsuit against Peter Khaim and two New York City pharmacies for allegedly counterfeiting its HIV medications, Biktarvy and Descovy. The company seized $750,000 worth of fake drugs in July. This is Gilead's second major legal action against Khaim, who had previously been prohibited from selling Gilead-branded products.
August 16, 2024 | 3:24 pm
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Gilead Sciences has filed a new lawsuit against Peter Khaim and two pharmacies for counterfeiting its HIV medications, Biktarvy and Descovy. The company seized $750,000 worth of fake drugs in July. This legal action highlights ongoing challenges in combating pharmaceutical fraud.
The news of ongoing counterfeit issues and a new lawsuit could negatively impact investor sentiment and Gilead's stock price in the short term. The stock is already down 1.65%, reflecting immediate market reaction.
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