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Gilead raises 2020 profit forecast

Jan 11 (Reuters) - Gilead Sciences Inc raised its full-year profit forecast on Monday, boosted by increased sales of COVID-19 treatment remdesivir, as hospitalization and treatment rates were higher than expected given the most recent surge in cases.

The U.S. drugmaker expects adjusted earnings for 2020 in the range of $6.98-$7.08 per share, compared with the earlier forecast of $6.25- $6.60 per share. (Reporting by Mrinalika Roy in Bengaluru; Editing by Shinjini Ganguli)

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