GILD Gilead Sciences Inc

   By Michael Calia 
 

Gilead Sciences Inc. (GILD) on Monday said the Food and Drug Administration has placed the company's new drug application for a hepatitis C treatment under priority review.

Gilead said it expects the FDA's decision on the ledipasvir-sofosbuvir combination by Oct. 10.

Gilead has also applied to market the drug in the European Union. The European Medicines Agency validated the application late last month, according to the company.

The FDA granted the drug a "breakthrough therapy" designation, a label meant for experimental medicine that may offer large treatment advances over other, already existing options.

Gilead has moved to capitalize on hepatitis C and cancer drug development in recent years as the company has faced sluggish sales growth in HIV drugs.

Write to Michael Calia at michael.calia@wsj.com

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