Biotech giant Gilead could have some major problems with its 'wonder drug'

Gilead Sciences could have some problems with two of its biggest drugs.

Bloomberg reported on Saturday that Gilead sent warnings to health providers on Friday after patients taking its hepatitis C drugs Sovaldi or Harvoni developed problems when taking the drugs in combination with heart treatment amiodarone.

Bloomberg reported that nine patients taking Sovaldi or Harvoni amiodarone developed abnormally slow heartbeats, while three required a pacemaker to be inserted and one died of cardiac arrest.

Sovaldi was once called a “wonder drug” by CNBC’s Jim Cramer.

Gilead, which has a market cap of over $US150 billion, has seen shares rise more than 40% over the last year and is part of the high-flying biotech sector that has seen gains far outpace the market this year.

In the fourth quarter, sales of Sovaldi totaled $US1.73 billion. Harvoni sales totaled $US2.1 billion.

Bloomberg noted that the drugs have drawn criticism for their price, which can cost more than $US1,000 per day, or $US94,500 for a full round of treatment.

Read the full report from Bloomberg here ยป

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at