Syria jets kill tens as international envoy visits






BEIRUT (AP) — A government airstrike on a bakery in a rebel-held town in central Syria killed more than 60 people on Sunday, activists said, casting a pall over a visit by the international envoy charged with negotiating an end to the country’s civil war.


The strike on the town of Halfaya left scattered bodies and debris up and down a street, and more than a dozen dead and wounded were trapped in tangled heap of dirt and rubble.






The attack appeared to be the government response to a newly announced rebel offensive seeking to drive the Syrian army from a constellation of towns and village north of the central city of Hama. Halfaya was the first of the area’s towns to be “liberated” by rebel fighters, and activists saw Sunday’s attack as payback.


“Halfaya was the first and biggest victory in the Hama countryside,” said Hama activist Mousab Alhamadee via Skype. “That’s why the regime is punishing them in this way.”


The total death toll remained unclear, but the Britain-based Syrian Observatory for Human Rights said more than 60 people were killed. That number is expected to rise, it said, because some 50 of those wounded in the strike are in critical condition.


Amateur videos posted online Sunday showed residents and armed rebels rushing to the scene. One stopped to cover a mound of human flesh lying in the street with his coat.


More than a dozen dead or seriously wounded people lay in the street near a simple, concrete building, some in puddles of blood. Near its front wall, bodies jutted from a pile of dirt and rubble on the sidewalk.


Rebels screamed in distress while trying to extract the bodies, while others carried away the wounded.


It was unclear from the videos if the building was indeed a bakery. Nearly all the dead and wounded appeared to be men, some wore camouflage, raising the possibility that the jet had targeted a rebel gathering.


For the past week, rebels have been launching attacks in the area, most notably in the nearby village of Morek, where they hope to seize control of the country’s main north-south highway, preventing the regime from getting supplies to its forces further north in the provinces of Idlib and Aleppo.


On Saturday, one rebel group threatened to storm two predominantly Christian towns nearby if their residents did not “evict” government troops they said were using them as a base to attack nearby areas.


The activist accounts could not be independently verified due to restrictions on reporting in Syria. The Syrian government does not respond to requests for comment on its military activities.


The attack coincided with the start of a two-day visit by Lakhdar Barhimi, who represents the U.N. And the Arab League, to meet with top Syrian officials.


Brahimi has made little apparent progress toward ending Syria’s crisis since assuming his post in September, mostly because the sides appear more interested in fighting it out than in sitting down for talks.


Brahimi did not speak publicly upon arriving in Damascus for a two-day mission, and it was unclear whether he would present new ideas to end the war. His trip appeared troubled from the start.


Instead of flying directly to Syria as he had on previous visits, Brahimi landed in Beirut and traveled to the Syrian capital by land because of fighting near the Damascus airport, Lebanese officials said.


The Lebanese officials, who spoke on condition of anonymity because they were not authorized to brief reporters, said Brahimi was expected to meet Syria’s foreign minister later Sunday and President Bashar Assad on Monday.


The trip is Brahimi’s third since taking the job following the resignation of former U.N. Secretary General Kofi Annan after both sides disregarded a cease-fire he brokered in April.


While not advancing a comprehensive peace plan, Brahimi has called on the sides to negotiate a solution.


The security situation has gotten notably worse for the regime since his last visit, with rebels storming a number of military bases and seizing valuable munitions. Russia, Assad’s most powerful international backer, also appears to have changed his assessment of Assad’s strength, as top officials say they do not seek to preserve his regime, while still calling for a negotiated solution.


Still, neither side appears willing to talk.


In a lengthy Sunday news conference, Syrian Information Minister Omran al-Zoubi repeated the Syrian government’s line that it is fighting terrorist groups backed by foreign powers who seek to destroy Syria.


Al-Zoubi said the government was willing to engage in dialogue but said the other side wasn’t.


“We speak of dialogue with those who believe in national dialogue,” he said. “But those who rejected dialogue in their statements and called for arms and use of weapons, that’s a different issue. They don’t want dialogue.”


Rebel groups refuse to talk to Assad, saying too many people have died for him to be considered part of the solution.


Violence raged elsewhere in the country on Sunday. Anti-regime activists reported government airstrikes on suburbs east of the capital and the northern province of Aleppo.


Airstrikes on the town of al-Safira, south of Aleppo, killed 13 people, including a mother and five daughters from one family, a local activist named Hussein said via Skype. He gave only his first name for fear of retribution.


The town lies next to a large military complex with factories and artillery and air defense bases. Hussein guessed the airstrike was payback for recent rebel attacks on the complex.


“The strikes don’t hit the fighters at all,” he said. “They want to take revenge on the civilians.”


The Observatory said at least 10 rebels and an unknown number of government troops were killed in clashes in Afreen, near Aleppo, Syria’s largest city, as rebels sought to storm an army base there.


Anti-regime activists say more than 40,000 people have been killed since Syria’s crisis began in March 2011.


___


Associated Press writer Albert Aji contributed reporting from Damascus.


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CBS’ ”The Job” Gets Premiere Date






LOS ANGELES (TheWrap.com) – “Survivor” maestro Mark Burnett‘s latest reality TV venture, “The Job,” will premiere February 8 at 8 p.m. on CBS, the network said Thursday.


The series, executive produced by Burnett and Michael Davies (of “Who Wants to Be a Millionaire” renown) and Jay Bienstock, will give contestants the chance to score jobs at prestigious American companies through several rounds of elimination challenges that will be observed by a panel of executives. As representatives from companies offer the competitors positions, the candidates will have to decide if they’ll take the jobs or continue on in pursuit of the big gig.






Former “The View” co-host Lisa Ling will host “The Job,” which is produced by Sony Pictures Television and Embassy Row.


CBS will announce the featured companies participating in the series early next year.


“The Job” will air in the time period of the network’s other work-related reality series, “Undercover Boss,” which returns April 19.


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Fear, finger-pointing mount over U.S. fiscal cliff






WASHINGTON (Reuters) – Top U.S. lawmakers voiced rising fear on Sunday that the country would go over “the fiscal cliff” in nine days, triggering harsh spending cuts and tax hikes, and some Republicans charged that was President Barack Obama‘s goal.


“It’s the first time that I feel it’s more likely that we will go over the cliff than not,” Senator Joe Lieberman, an independent from Connecticut, said on CNN’s “State of the Union.”






“If we allow that to happen it will be the most colossal consequential act of congressional irresponsibility in a long time, maybe ever in American history,” Lieberman added.


The Democratic president and Republican House of Representatives Speaker John Boehner, the two key negotiators, are not talking and are out of town for the Christmas holidays. Congress is in recess, and will have only a few days next week to act before January 1.


On the Sunday news shows, no one signaled a change of position that could form the basis for a short-term fix, despite a suggestion from Obama on Friday that he would favor one.


The focus was shifting instead to the days following January 1 when the lowered tax rates dating back to the George W. Bush administration will have expired, presenting Congress with a redefined and more welcome task that involves only cutting taxes, not raising them.


“I believe we are,” going over the cliff, said Republican Senator John Barrasso of Wyoming. “I think the president is eager to go over the cliff for political purposes. I think he sees a political victory at the bottom of the cliff,” Barrasso said on Fox News Sunday.


Some Republicans have said Obama would welcome the fiscal cliff’s tax increases and defense cuts, as well as the chance to blame Republicans for rejecting deal. Obama has rejected that assertion.


Congress started the clock ticking in August of 2011 on the cliff. The threat of about $ 600 billion of spending cuts and tax increases was intended to shock the Democratic-led White House and Senate and the Republican-led House into bridging their many differences to approve a plan to bring tax relief to most Americans and curb runaway federal spending.


Economists say the harsh tax increases and budget cuts from the fiscal cliff could thrust the world’s largest economy back into a recession, unless Congress acts quickly to ease the economic blow.


MARKETS COULD TUMBLE


The most immediate impact could come in financial markets, which have been relatively calm in recent weeks as Republicans and Democrats bickered, but could tumble without prospects for a deal.


Markets will be open for a half-day on Christmas Eve, when Congress will not be in session, and will be closed on Tuesday for Christmas.


Wall Street will resume regular stock trading on Wednesday, but volume is expected to be light throughout the week with scores of market participants away on a holiday break.


If Congress fails to reach any agreement, income tax rates will go up on just about everyone on January 1. Unemployment benefits, which Democrats had hoped to extend as part of a deal, will expire for many as well.


In the first week of January, Congress could scramble and get a quick deal on taxes and the $ 109 billion in automatic spending cuts for 2013 that most lawmakers want to avoid.


Once tax rates go up on January 1, it could be easier to keep those higher rates on wealthier taxpayers while reducing them for middle- and lower-income taxpayers. Lawmakers would not have to cast votes to raise taxes.


Some lawmakers expressed guarded hope that a short-term deal on deficit-reduction could be reached in the next week or so, with a longer more permanent deal hammered out next year.


But a short-term deal would need bipartisan support, as Obama has said he would veto a bill that does not raise taxes on the wealthiest Americans.


Democratic Senator Kent Conrad, chairman of the Budget Committee, said Obama and Boehner are not that far apart and that both sides should keep pushing for a long-term big deal.


“I would hope we would have one last attempt here to do what everyone knows needs to be done, which is the larger plan that really does stabilize the debt and get us moving in the right direction,” Conrad of North Dakota told Fox News Sunday.


(Reporting By Thomas Ferraro and Richard Cowan; Editing by Fred Barbash and Vicki Allen)


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NRA’s LaPierre: New gun laws won't work


LaPierre speaks at Friday's press conference. (Getty)


Two days after suggesting a "good guy with a gun" be stationed at every school in the country in response to the deadly shootings in Newtown, Conn., National Rifle Association executive vice president Wayne LaPierre blasted critics of his plan.


In an interview broadcast on Sunday's "Meet The Press," LaPierre reiterated the statements he made Friday at a press conference in Washington, when he said the answer to preventing shootings like the one at Sandy Hook Elementary Sch00l is armed security in every school--in effect, protecting children with guns.


“If it’s crazy to call for putting police in and securing our schools to protect our children, then call me crazy," LaPierre said. “I think the American people think it’s crazy not to do it."


At one point during the often contentious exchange, host David Gregory held up a high-capacity magazine clip that carries 30 bullets, asking if the NRA would support a federal limit on the capacity of such clips.


"Isn't it just possible that we could reduce the carnage in a situation like Newtown?" Gregory asked.


"I don't believe that's going to make one difference," LaPierre responded.


"You're telling me that it's not a matter of common sense that if you don't have an ability to shoot off 30 rounds without reloading, that, just possibly, you could reduce the loss of life?" Gregory asked.


"I don't buy your argument for a minute," LaPierre said. "There are so many different ways to evade that, even if you had that."


“Is there no new gun regulation you would support?” an exasperated Gregory asked. LaPierre refused to answer.


At Friday's press conference, LaPierre--who did not take questions from reporters--argued that had someone at the school been armed, "innocent lives might have been spared."


"The only thing that stops a bad guy with a gun is a good guy with a gun," he said.




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Canada spending growth sluggish in November, Mastercard says






(Reuters) – Canada‘s holiday shopping season got off to a slow start in November with retail sales rising only 1.3 percent from the previous year, compared with 4.2 percent growth a year earlier, according to data released by MasterCard on Thursday.


Still, the shopping season was still young in November. MasterCard Advisors, the payment company’s research and consulting division, found that in recent years, holiday shopping peaks from December 20 to December 22.






“Many Canadians may have gotten an early start with Black Friday and Cyber Monday this year, but it’s still a very young phenomenon in Canada,” Senior Vice-President Richard McLaughlin, said in a release.


The Friday after U.S. Thanksgiving is the unofficial start to the holiday shopping season south of the border, and in recent years retailers have imported Black Friday sales to Canada.


Some also promote online sales the following Monday.


Canada’s online retail sales continued to grow in November, increasing 26.4 percent.


(Reporting by Allison Martell; Editing by Peter Galloway)


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Slave-Revenge Film ‘Django Unchained’ Tracking Strongly With African-Americans






LOS ANGELES (TheWrap.com) – “Django Unchained” – about a bounty hunter who partners with a freed slave to take down a plantation owner – is tracking extremely well with African Americans, the Weinstein Company said Thursday.


Quentin Tarantino wrote and directed the violent Western, which stars Christoph Waltz, Jamie Foxx and Leonardo DiCaprio, respectively. Opening on Christmas Day, it’s a front-runner in several Academy Award categories.






Despite the violence, it’s one of the few holiday offerings that would by nature of its subject matter appeal to an African-American audience.


“We think this film is going to resonate with everyone,” the Weinstein Company’s head of distribution Erik Lomis told TheWrap Thursday. And while he didn’t offer specific figures on the degree of interest among African-Americans the company’s pre-release research indicated, he did say that it is “looking very, very strong for us” with that demographic.


That’s good news for “Django,” which will open against Universal’s “Les Miserables” in a very crowded holiday box office. Analysts see a first weekend in the $ 25 million range for “Django,” and predict it ultimately will surpass $ 100 million domestically.


Last week “Django” received Golden Globes nominations for picture, director, screenplay and two supporting actors, Waltz and DiCaprio.


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Hepatitis C tests continue after NH tech’s arrest






CONCORD, N.H. (AP) — Hospitals across the country recommended hepatitis C testing for about 7,900 patients last summer after a traveling medical worker was accused of stealing drugs and infecting patients with tainted syringes in New Hampshire. But five months later, nearly half of those who were possibly exposed to the liver-destroying disease in other states have yet to be tested.


Described by prosecutors as a “serial infector,” David Kwiatkowski is accused of stealing syringes of the powerful painkiller fentanyl from the cardiac catheterization lab at New Hampshire’s Exeter Hospital and replacing them with saline-filled syringes tainted with his own blood. In jail since his arrest in July, he pleaded not guilty to 14 federal drug charges earlier this month and is expected to go to trial next fall.






Before April 2001, when he was hired in New Hampshire, Kwiatkowski worked as a traveling cardiac technologist in 18 hospitals in seven states, moving from job to job — despite being fired twice over allegations of drug use and theft.


Thirty-two people in New Hampshire have been diagnosed with the same strain of hepatitis C that Kwiatkowski carries, along with six in Kansas, five in Maryland and one in Pennsylvania. At least 3,700 people outside New Hampshire have yet to be tested, hospitals and public health officials told The Associated Press.


For example, in Michigan, where Kwiatkowski grew up and started his career, about 2,300 patients at five hospitals were notified that they may have been exposed to hepatitis C by Kwiatkowski. As of early December, only about 500 had gone in for testing, none of whom were diagnosed with a strain linked to the New Hampshire outbreak, according to the Michigan Department of Community Health.


In Pennsylvania, 2,280 patients at the University of Pittsburgh Medical Center Presbyterian were notified that they should get tested, but only 840 have, one of whom was diagnosed with a matching strain of hepatitis C.


Kwiatkowski was fired a few weeks into his temporary job at UPMC in 2008 after a co-worker accused him of swiping a fentanyl syringe from an operating room and sticking it down his pants. Citing a lack of evidence, hospital authorities didn’t call police, and neither the hospital nor the medical staffing agency that placed him in the job informed the national accreditation organization for radiological technicians. Within days, Kwiatkowski was starting a new job at the Baltimore VA Medical Center, where one patient also has since been diagnosed with hepatitis C linked to Kwiatkowski.


Though the VA center initially said it had identified 168 patients who may have been exposed, that number was later lowered, and 68 patients ultimately were tested. Two other Maryland hospitals where Kwiatkowski worked also have completed their testing, with no diagnosed cases of hepatitis C matching Kwiatkowski. But at the fourth, The Johns Hopkins Hospital in Baltimore, four patients have been diagnosed with the strain of disease linked to Kwiatkowski.


About 500 of the 1,567 patients notified by Johns Hopkins have yet to be tested, according to hospital spokeswoman Kim Hoppe. Kwiatkowski had been referred by a staffing agency that assured Johns Hopkins that it had followed a vigorous vetting process, Hoppe said. He worked there for two 13-week stints, from July 2009 to January 2010.


Saint Francis Hospital in Poughkeepsie, N.Y., where Kwiatkowski worked in late 2007 and early 2008, notified and tested 31 patients without finding any linked cases to Kwiatkowski. In Kansas, nearly all of the 416 patients who may have been exposed at Hays Medical Center have been tested and six have been diagnosed with infections linked to the New Hampshire outbreak.


There have been no cases linked to Kwiatkowski in Arizona, where about 300 patients from two hospitals have been asked to get tested and about 280 have done so. Kwiatkowski worked at Maryvale Hospital in Phoenix in 2009 and the Arizona Heart Hospital in 2010. He was fired from the latter job after 10 days after a co-worker found him passed out in a bathroom stall with a stolen fentanyl syringe floating in the toilet.


That incident was reported to police, Kwiatkowski’s staffing agency, a state regulatory board and the national accreditation organization, but the accreditation group dropped its inquiry after learning police hadn’t filed charges.


Days later, Kwiatkowski landed a new job filling in for striking technicians at Temple University Hospital in Philadelphia. That hospital has recommended testing for 312 patients but won’t say how many have followed through or have been diagnosed with hepatitis C. A hospital spokesman referred questions to the city health department, which did not return calls.


Testing also is still under way in the last place Kwiatkowski worked before heading to New Hampshire — Houston Medical Center in Warner Robins, Ga. According to the hospital, fewer than 100 people have yet to be tested, and there haven’t been any cases yet linked to Kwiatkowski.


In New Hampshire, where about 3,300 patients were tested, Kwiatkowski is charged with seven counts of illegally obtaining drugs and seven counts of tampering with a consumer product, though prosecutors have said further charges are possible. Although New Hampshire cannot charge him for possible violations in other states, it can use evidence gathered in those jurisdictions in its trial, U.S. Attorney John Kacavas said. Other states are waiting to see the outcome of New Hampshire’s case before deciding whether to file charges, he said.


“We continue to reach out to other states affected by this matter,” Kacavas said this week. “Other health organizations and departments continue to do their work in their states, but nothing has changed in the sense that our prosecution will go forward. At this point, we are the only prosecution in the country, and we’ll see how it rolls out.”


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Final day of funerals for Newtown shooting victims




The final three victims of the massacre at Sandy Hook Elementary School will be laid to rest today, ending a somber week of funerals.



A mass will take place today at St. Rose of Lima Catholic Church for Josephine Gay, who had celebrated her 7th birthday on Dec. 11.



Friends and family have been asked to wear Josephine's favorite color, purple, in her honor.



PHOTOS: Victims of Sandy Hook Massacre



A homegoing celebration will take place at The First Cathedral in Bloomfield, Conn., for Ana Marquez-Greene. The 6-year-old with a beaming voice sang in a home video with her brother, who was also at Sandy Hook Elementary School during the massacre, and seemed destined to take after her father, a jazz musician.



Emilie Parker, the budding artist who carried her markers and pencils everywhere, will be laid to rest in Ogden, Utah today.



The 6-year-old would have been would one of the first to comfort her classmates at Sandy Hook Elementary School, had a gunman's bullets not claimed her life, her father said.



"My daughter Emilie would be one of the first ones to be standing and giving support to all the victims because that's the kind of kid she is," her father, Robbie Parker, said last Saturday.



"She always had something kind to say about anybody," Parker said. "We find comfort reflecting on the incredible person Emilie was and how many lives she was able to touch."



WATCH: Emilie's father speaks about his daughter


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BMG Scores Rights to Nirvana, Tears for Fears Songs






NEW YORK (TheWrap.com) – BMG has acquired the worldwide rights to several music catalogues, a deal that will give it songs from artists including Kurt Cobain, Tears for Fears, The Human League, Iggy Pop, and Take That.


The company announced Friday that it will purchase the rights for the Virgin Music Publishing Companies, Famous UK Music Publishing and selected current songwriters from Sony/ATV and EMI Music Publishing.






Sony Corporation of America and a group of investors acquired EMI Music Publishing in June, and Sony/ATV Music Publishing administers EMI on behalf of the group. It had to sell the catalogues as a condition of the acquisition.


Virgin Publishing’s catalogue includes Kurt Cobain‘s songs for Nirvana, including “Smells Like Teen Spirit,” “Come As You Are” and “About A Girl.”


Other hits include Jim Steinman’s “Total Eclipse Of The Heart,” Lenny Kravitz’ “Are You Gonna Go My Way,” Mark Ronson and Amy Winehouse’s “Back to Black,” and Devo’s “Whip It.”


Other songs include Take That’s greatest hits, including “Patience,” “Shine” and “Greatest Day,” as well as former member Robbie William’s interests in “Angels,” “Rock DJ” and “Let Me Entertain You.”


Also in the catalogue are Tears for Fears‘ “Everybody Rules The World,” Culture Club’s “Karma Chamelon,” OMD’s “Enola Gay,” and Iggy Pop‘s “Lust for Life,” as well as recent hits including Duffy’s “Mercy.”


BMG, the fourth-largest music publishing company, is a three-year-old partnership between Bertelsmann and Kohlberg Kravis Roberts & Co. In May, it announced it had more than one million copyrights under management.


“These catalogues contain some of the most influential and successful songs in popular music,” said BMG CEO Hartwig Masuch. “We are delighted to have won the opportunity to represent the writers of those songs and to demonstrate to them BMG‘s commitment to twenty-first century service. They have my pledge that we will do our very best to deliver for them.”


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Gilead A Strong Buy On New HIV Treatments







Jordo is a member of The Motley Fool Blog Network — entries represent the personal opinions of our bloggers and are not formally edited.






Despite the expiration of some of its HIV patents in 2018, Gilead Sciences’ (NASDAQ: GILD) new HIV treatments will enable the company to extend its HIV-based profitability for the long-term.


Gilead has done well with fixed-dose combination pills Truvada and Atripla combining multiple HIV medications into a single pill. The company has been rewarded with an impressive market share in the HIV treatment market, and is now looking for the same success in the treatment of Hepatitis C. Sofosbuvir, a novel Hepatitis C drug, recently demonstrated promising results in the first of several phase 3 trials, with 78% of patients having an undetectable viral load 12 weeks following treatment.


There are two characteristics of sofosbuvir which make it a potential blockbuster. First, if approved by the FDA, it would be the first all-oral Hepatitis C treatment. Second, it avoids the use of interferon, a component of standard Hepatitis C treatments associated with unfavorable side effects. Half the patients that take interferon typically develop flu-like symptoms, and one-third develop psychiatric complications such as depression. These challenges in the current Hepatitis C treatment regiments have led to approximately one-third of patients discontinuing treatment. As an all-oral, low side-effect medication, sofosbuvir has the potential to sharply reduce this rate of non-compliance and, in doing so, establish itself as the dominant drug in the treatment of Hepatitis C in a market estimated at over $ 20 billion. Sofosbuvir is currently progressing through phase 3 trials.


Drug Pipeline


Gilead has also recently introduced another HIV drug, Stribild, that is poised to become a lead drug choice in HIV treatment. A four-drug combination pill that builds on the success of Gilead’s single-pill model, Stribild has been predicted to become the market leading HIV drug within the next decade. In addition, Gilead produces all of the component drugs within Stribild, and they would avoid the revenue sharing arrangements associated with their previous HIV medications.


Gilead has also ramped up its research into oncology drugs, with several drugs in its pipeline being tested as treatments for colorectal cancer, pancreatic cancer and a specific type of leukemia. In December, Gilead bought YM BioSciences (NYSEMKT: YMI), a Canadian company, for $ 510 million in cash, mainly to get access to the Canadian company’s research into treatments for a bone-marrow disorder. The Canadian company’s lead drug candidate, CYT387, is an orally-administered, once-daily, selective inhibitor of the Janus kinase (JAK) family, specifically JAK1 and JAK2 and combats myelofibrosis, a bone-marrow disease that can lead to anemia and an enlarged spleen. The acquisition provides Gilead with a promising treatment at a reasonable price.


Financials


Total revenues for the third quarter of 2012 increased 14% to $ 2.43 billion, from $ 2.12 billion for the third quarter of the previous year. Net income for the third quarter was $ 675.5 million, or $ 0.85 per diluted share compared to $ 741.1 million or $ 0.95 per diluted share for the third quarter of 2011. Non-GAAP net income for the third quarter of 2012, which excludes acquisition-related, restructuring and stock-based compensation expenses, was $ 788.9 million, or $ 1.00 per diluted share compared to $ 795.2 million, or $ 1.02 per diluted share for the third quarter of 2011.


As of Sept. 30, 2012, Gilead had $ 2.65 billion of cash, cash equivalents and marketable securities compared to $ 9.96 billion as of Dec. 31, 2011. The decrease was due to the acquisition of Pharmasset in the first quarter of 2012. Gilead generated $ 2.49 billion of operating cash flow during the first nine months of 2012 including $ 745.4 million generated in the third quarter of 2012.


Analyst Ratings


Zacks reiterated its neutral rating on Gilead with a price target of $ 78.00. Analysts at Guggenheim reiterated a “buy” rating on Gilead with a price target of $ 87. On Dec. 5, analysts at Oppenheimer reiterated an “outperform” rating on Gilead. On Dec. 4, 2012, Barclays Capital reaffirmed its “overweight” rating on Gilead with a price target of $ 76. On Nov. 30, Gilead had its “overweight” rating affirmed by Piper Jaffray with a price target of $ 85. On Nov. 13, analysts at Stifel Nicolaus raised their price target on Gilead from $ 80 to $ 85 with a “buy” rating. On the same date, Lazard also raised its price target on Gilead from $ 89 to $ 100 with a “buy” rating.


Competition


Gilead’s HCV candidate sofosbuvir, which was added to Gilead’s pipeline through its acquisition of Pharmasset, is now in phase 3 trials. The results put Gilead in the lead in what has become a two-horse race with Abbott Laboratories (ABT) to produce the first treatment for the disease that doesn’t include interferon with its negative side effects. In the case of CYT387 included in the recent YM BioSciences acquisition, potential rivals in the field are Incyte (INCY) and Novartis’ (NVS) JAK inhibitor Jakafi, which the FDA approved last year to combat myelofibrosis. Cell Therapeutics (CTIC) has its own midstage program focusing on the blood disease. 


Bristol-Myers Squibb (NYSE: BMY)is testing sofosbuvir plus their NS5A inhibitor daclatasvir (formerly BMS-790052). Bristol-Myers Squibb had a clinical collaboration with Pharmasset and started this trial before Gilead’s acquisition. It appears, though, that these two competing companies, notably Gilead, are not interested in conducting a phase3 study to evaluate this combination. Bristol-Myers Squibb is also evaluating multiple HCV drug candidates. The acquisition of Zymogenetics in 2010 for $ 885 million brought pegylated interferon lambda while the company acquired INX-189 (now called as BMS-986094) through the acquisition of Inhibitex in 2012 for $ 2.5 billion.


Conclusion


I have every reason to believe that Gilead is going to continue to be highly successful, and I have no hesitation in recommending this stock to investors.


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