The main Irish unit of pharmaceutical giant Gilead recorded a pre-tax loss of $ 1.84 billion (€ 1.63 billion) last year.

New accounts show Cork-based Gilead Sciences Ireland Unlimited (GSIU), which produces drugs to fight HIV and hepatitis C, suffered the pre-tax loss last year after recording a depreciation outside $ 18.4 billion cash in a financial asset.

The depreciation was partially offset by the fact that GSIU received a dividend of $ 16.73 billion from the companies in the group.

The accounts show that $ 16.5 billion of the dividend was in the form of a promissory note.

The pre-tax loss of $ 1.84 billion last year followed a pre-tax profit of $ 288.37 million in 2019.

The 2020 loss also takes into account significant non-cash depreciation of $ 1.54 billion.

Last year, Gilead Science Ireland Unlimited announced a € 7 million expansion of its Irish operations with the creation of 140 additional jobs here.

At the time of the announcement, Gilead already employed 370 jobs and had invested 225 million euros here.

The new accounts show that the GSIU recorded an operating loss of $ 184 million last year after its revenue fell 16% to $ 6.65 billion. to $ 5.59 billion.

Directors say revenue declined primarily due to lower sales of hepatitis C products, which was partially offset by higher sales of the company’s anti-HIV products.

Last year, the number of employees at the company increased from 406 to 430, and personnel costs totaled $ 73 million.

Directors’ compensation amounted to $ 2.89 million, made up of fees of $ 1.43 million and an additional $ 1.46 million under long-term incentive plans.

Last year, Gilead Science Ireland Unlimited paid a $ 2.1 billion cash dividend to an immediate parent company, Gilead Biopharmaceutics Ireland UC.

Directors say $ 800 million additional dividend paid this year.