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Blockbuster hepatitis C medicine Harvoni propelled Gilead Sciences Inc.’s second-quarter profit up 23 percent as total revenue for the biotech drugmaker jumped 26 percent and it raised its 2015 sales forecast for the second time. Its shares jumped in after-hours trading. Harvoni and a second hepatitis C drug, Sovaldi, together posted sales about $500 million above expectations and HIV medicine sales were higher-than-expected across all products, noted Edward Jones analyst Ashtyn Evans. (Johnson, 7/28)

Merck & Co Inc reported a better-than-expected quarterly profit and boosted its full-year earnings forecast as demand for its diabetes and cancer drugs increased. The company also said it expects to reap benefits from its $8.4 billion purchase of Cubist Pharmaceuticals, the maker of blockbuster antibiotic Cubicin. Cubicin sales for the second quarter were $293 million. (7/28)

Health insurer Centene Corp reported a better-than-expected quarterly profit and said it would consider buying the Medicare Advantage plans its rivals are likely to divest during the current phase of consolidation in the managed care industry. U.S. health insurers are consolidating in an attempt to cut costs and improve their bargaining power with doctors and hospitals. Anthem Inc said last week that it would buy Cigna Corp for about $54.2 billion, creating the largest U.S. health insurer, while Aetna Inc agreed to buy Humana Inc for $37 billion this month. (Penumudi, 7/28)