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Gilead Sciences (GILD) came out with quarterly earnings of $2.47 per share, beating the Zacks Consensus Estimate of $2.15 per share. This compares to earnings of $2.02 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +14.88%. A quarter ago, it was expected that this HIV and hepatitis C drugmaker would post earnings of $1.95 per share when it actually produced earnings of $2.01, delivering a surprise of +3.08%.Over the last four ...

Financial Data and Key Metrics Changes - The company reported third quarter product sales of $7.3 billion, a 4% increase year over year and a 2% increase sequentially, driven by strength across the HIV portfolio, offset by lower oncology revenue [11][42] - Non-GAAP EPS grew 22% year over year, with a 10% increase excluding a $0.25 benefit from a non-recurring accounting item [5][43] - The company raised its full-year HIV revenue growth expectations to approximately 5%, up from 3% previously, despite a $900 million headwind from Medicare Part D redesign [5][46] Business Line Data and Key Metrics Changes - HIV sales reached $5.3 billion, representing a 4% growth year over year, primarily driven by higher demand and favorable inventory dynamics [12] - Biktarvy sales were $3.7 billion, up 6% year over year, achieving a record market share of approximately 52% in the U.S. [12][13] - Descovy sales increased to $701 million, a 20% year over year growth, with a record market share of over 45% for PrEP [14][15] - Libdelzi contributed to 12% year over year growth in the liver portfolio, exceeding $100 million in quarterly sales for the first time [7][20] Market Data and Key Metrics Changes - The PrEP market grew approximately 14% year over year, with Yes2Go achieving $39 million in third quarter sales and $54 million since its launch [15][18] - The company achieved 75% payer coverage for Yes2Go nearly three months ahead of target, setting a strong foundation for continued growth [6][18] Company Strategy and Development Direction - The company is focused on expanding its HIV portfolio and pipeline, with upcoming updates on next-generation HIV treatments expected before the end of the year [6][9] - The company plans to launch Trodelvy for first-line metastatic triple-negative breast cancer in 2026, following positive clinical trial results [8][34] - The company is actively seeking additional business development opportunities across liver disease and oncology [70][72] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the HIV business, citing strong product leadership and an innovative pipeline [6][9] - The company anticipates continued growth driven by strong demand for Biktarvy and Descovy, despite challenges from Medicare Part D redesign [62][64] - Management highlighted the importance of access and reimbursement logistics for Yes2Go, indicating a gradual ramp-up in sales as practices integrate new coverage [76][90] Other Important Information - The company reported a third quarter operating margin of 50%, reflecting disciplined operating expense management [43] - The company returned $1.4 billion to shareholders in the third quarter, including $435 million in share repurchases [49] Q&A Session Summary Question: Insights on Yes2Go patient demographics and demand drivers - Management noted that Yes2Go is attracting a balanced mix of patients switching from existing therapies and new patients, with expectations for continued growth as market awareness increases [52][53] Question: Clarification on Yes2Go sales figures - Management provided context on the $39 million sales figure, indicating that it reflects true demand rather than inventory stocking, with a focus on achieving 75% coverage ahead of schedule [56][57] Question: Discussion on HIV treatment growth despite Medicare Part D impact - Management confirmed that strong growth in the HIV segment is driven by both treatment and prevention, with Biktarvy and Descovy leading the way [62][64] Question: Update on inventory impact for Yes2Go and CVS pricing discussions - Management clarified that there was no significant inventory buy-in during Q3, and discussions with CVS and other payers are ongoing to secure access [66][67] Question: Appetite for additional business development in liver-focused indications - Management expressed interest in pursuing additional late-stage assets in liver disease and other strategic areas, emphasizing a disciplined approach to business development [70][72]

By Deena Beasley (Reuters) -Gilead Sciences said on Thursday its HIV drug sales rose 4% to $5.3 billion in the third quarter including $39 million for its new prevention drug Yeztugo, helping to boost its profit. The company's overall product sales, however, fell 2% to $7.3 billion due to lower COVID-19 and cell therapy sales. Shares of Gilead, which closed down a fraction, were down 3.5% at $114.30 in after-hours trading. Wall Street expected sales of Yeztugo, which has an annual U.S. list price of ab ...

Financial Performance - Total product sales excluding Veklury increased by 4% year-over-year to $7.1 billion[8], driven by the strength of the HIV portfolio[8] - Total HIV product sales also increased by 4% year-over-year[8], with Biktarvy up by 6%[8] and Descovy up by 20%[8], and Yeztugo sales of $39 million[8] - Non-GAAP diluted EPS was $2.47, or $2.22 excluding non-recurring revenue[8] - Livdelzi sales grew 35% quarter-over-quarter to $105 million[61] - Veklury sales decreased by 60% year-over-year due to fewer COVID-19 related hospitalizations[60], resulting in $400 million lower sales[60] Product and Pipeline Updates - Yeztugo achieved 75% payer access in the U S [8], with a target of 90% by the end of Q226[8] - The European Commission approved Yeytuo, a twice-yearly injection for HIV prevention[8] - Trodelvy sales increased by 7% year-over-year[8], driven by higher demand[34] - Cell Therapy sales decreased by 11% year-over-year[8] due to competitive headwinds[37] - The company expects HIV business to grow approximately 5% year-over-year, revised from a prior guidance of approximately 3%[17]

Core Insights - Gilead Sciences reported a 4% increase in HIV drug sales, reaching $5.3 billion in the third quarter, which includes $39 million from its new prevention drug Yeztugo, contributing to profits exceeding Wall Street expectations [1] Sales Performance - The total sales of Gilead's HIV drugs rose to $5.3 billion in Q3, marking a 4% increase compared to previous periods [1] - The new prevention drug Yeztugo generated $39 million in sales, indicating a positive reception in the market [1] Profitability - The increase in HIV drug sales and the introduction of Yeztugo helped Gilead Sciences achieve profits that surpassed Wall Street's forecasts [1]

Foster City, CA, October 30, 2025 - Gilead Sciences, Inc. (Nasdaq: GILD) announced today its third quarter 2025 results of operations. "We continue to deliver on Gilead's robust portfolio with a strong start for Yeztugo, rapidly growing uptake of Biktarvy, Descovy and Livdelzi, and positive data for Trodelvy in 1L metastatic triple negative breast cancer," said Daniel O'Day, Gilead's Chairman and Chief Executive Officer. "With multiple potential product launches in 2026, the strongest clinical pipeline in G ...

Core Insights - Gilead Sciences, Inc. (GILD) is set to report its Q3 2025 results on October 30, with sales and earnings estimates of $7.46 billion and $2.15 per share respectively [1][7] - Earnings estimates for 2025 and 2026 have seen slight declines, with 2025 dropping from $8.09 to $8.07 and 2026 from $8.53 to $8.50 over the past month [1][2] Financial Performance - GILD has a strong earnings surprise history, beating estimates in three of the last four quarters with an average surprise of 11.04% [4][5] - The earnings estimate for Q3 2025 is $2.15 per share, consistent over the past 30 days, while the earnings surprise prediction is currently at -1.34% [8][2] Product Performance - The HIV portfolio, particularly Biktarvy and Descovy, continues to drive top-line growth, with Q3 sales estimates of $3.6 billion for Biktarvy and $629 million for Descovy [9][10] - The recent FDA approval of lenacapavir (Yeztugo) is expected to enhance Gilead's HIV franchise, with projected growth in HIV sales of approximately 3% in 2025 [11][22] Market Dynamics - Gilead's liver disease portfolio, including Livdelzi, is expected to perform well despite some challenges in hepatitis C virus sales [12][14] - Cell Therapy product sales are anticipated to decline due to competitive pressures, with estimates of $476 million for Q3 [15][23] Stock Performance - GILD shares have increased by 27.7% year-to-date, outperforming the industry average of 10.8% [18][19] - The current price/earnings ratio for GILD is 13.98x, higher than its historical mean but lower than the large-cap pharma industry average of 15.57x [21] Strategic Outlook - Gilead's ongoing innovation in the HIV sector and strategic acquisitions are viewed positively, although the Cell Therapy segment faces challenges [22][26] - The company is collaborating with Merck to evaluate a new HIV treatment, with updates expected in 2026 [27]

Core Points - South Africa has officially approved the new long-acting injectable HIV prevention drug, Lenacapavir, making it the first country in Africa to do so [1] - The drug, developed by Gilead Sciences, requires only two injections per year, providing up to six months of immune protection against HIV [1] - The South African government plans to launch the drug by March 2026, aiming to significantly reduce the annual treatment cost through agreements with Gilead and seven other pharmaceutical companies [1] - Lenacapavir is considered the most effective HIV prevention drug to date, which is particularly significant for South Africa, where the HIV infection rate is high [1] - The FDA has already approved Lenacapavir for HIV prevention in the United States, with a market price of $28,000 per person per year [1]

Industry Overview - The pharmaceutical industry is facing challenges including changing drug pricing policies, tariffs, and pressure to increase U.S. manufacturing [2][3] - Investors are particularly focused on potential "most favored nation" drug pricing deals with the Trump administration, following agreements with major companies [3] Company Earnings Preview - **Merck**: Expected to show topline growth driven by demand for immunotherapy Keytruda and new drug launches, though growth may be offset by sluggish sales of Gardasil in China [4] - **Eli Lilly**: Anticipated to report strong results due to growth in diabetes injection Mounjaro and weight loss drug Zepbound, with potential for an increase in full-year guidance [4] - **Bristol Myers Squibb**: Expected to have modest upside, with significant attention on upcoming phase three trial data for Cobenfy in Alzheimer's disease psychosis, which could represent a multi-billion-dollar opportunity [4] - **Gilead**: Core business improvement expected, particularly in the HIV sector, with focus on the launch of the twice-yearly HIV prevention injection Yeztugo and implications of Trump's pricing policy [4] - **AbbVie**: Anticipated to have a solid quarter with improvements in its aesthetics business and continued strength in Skyrizi and Rinvoq, positioning the company to exceed expectations [4]