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Don't Give Up on Gilead Following a Weak Q1


Keep an eye on Gilead Sciences ( (GILD - Get Report) ), whose shares are likely to reverse some of their recent losses amid news that its patent lawsuit with Merck ( (MRK - Get Report) ) over a hepatitis C drug will be re-opened.

The case is back in play following assertions that a Merck employee lied to the jury about the work behind the original patent, as initially reported by Bloomberg.

"Although not an outright victory, the news is incrementally positive after Gilead suffered a number of setbacks in its long-running dispute with Merck over the patents in the U.S. covering sofosbuvir and related HCV nucleoside antiviral drugs," wrote Leerink analyst Geoffrey Porges in a May 2 report.

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Shares of Gilead remained relatively flat Tuesday after losing about 9% of their value on Friday due to its disappointing first quarter results.

Included in its quarterly results for the period ended March 31 was a $200...