Financial Performance - FY23 Total Product Sales excluding Veklury increased by 7% YoY to $24.7 billion, driven by HIV and Oncology[7] - Oncology product sales increased by 37% YoY to $2.9 billion, driven by Trodelvy and Cell Therapy[7, 14] - Total HIV sales increased by 6% YoY, contributing approximately $1 billion in FY23 sales growth, with Biktarvy sales up by 14% YoY[7] - Q423 Total Product Sales excluding Veklury were flat YoY and QoQ[7] - FY23 Veklury sales reached $2.2 billion[30] HIV Franchise - HIV sales growth was primarily driven by demand, accounting for approximately 50% of sales growth[21] - Gilead's HIV treatment market share is approximately 48% in the U S[26] - Descovy for PrEP maintains over 40% U S market share despite new regimens and generics[26] Oncology Program - Trodelvy sales in Q423 were $299 million, representing a 53% YoY growth and 5% QoQ growth[35] - Cell Therapy sales in Q423 were $466 million, representing an 11% YoY growth but a 4% QoQ decline[19, 37] Pipeline Updates - EVOKE-01 trial (2L+ mNSCLC) missed the primary endpoint, but showed numerical OS improvement favoring Trodelvy in certain subgroups[7, 40] - OAKTREE trial for obeldesivir in COVID-19 standard-risk population missed the primary endpoint[7, 43] 2024 Guidance - FY24 Total Product Sales are projected to be between $27.1 billion and $27.5 billion[72] - FY24 Product Sales excluding Veklury are expected to grow by 4-6% YoY, reaching $25.8 billion - $26.2 billion[73] - FY24 HIV sales are expected to grow by approximately 4% YoY[73]

FOSTER CITY, Calif.--(BUSINESS WIRE)--Gilead Sciences, Inc. (Nasdaq: GILD) today announced that the company’s Board of Directors has declared an increase of 2.7% in the company’s quarterly cash dividend, beginning in the first quarter of 2024. The increase will result in a quarterly dividend of $0.77 per share of common stock. The dividend is payable on March 28, 2024, to stockholders of record at the close of business on March 15, 2024. Future dividends will be subject to Board approval. About Gilead Scie ...

FOSTER CITY, Calif.--(BUSINESS WIRE)--Gilead Sciences, Inc. (Nasdaq: GILD) announced today its results of operations for the fourth quarter and full year 2023. “This was another strong year of revenue growth for Gilead’s base business, driven by both HIV and Oncology,” said Daniel O’Day, Gilead’s Chairman and Chief Executive Officer. “The strength of the business provides a solid foundation as we enter a new catalyst-rich phase for the company. We are expecting several milestones in 2024, including updat ...

Gilead Sciences Inc. (GILD) is set to report fourth-quarter 2023 results on Feb 6, after market close.The company has a mixed track record, with earnings beating estimates in two of the last four quarters and missing in the remaining two, the average negative surprise being 0.24%. In the last reported quarter, the company posted an earnings surprise of 19.9%.Factors to NoteRevenues in the fourth quarter have likely been boosted by growth in oncology and HIV franchise sales. However, a decline in Veklury (re ...

FOSTER CITY, Calif.--(BUSINESS WIRE)--Gilead Sciences, Inc. (Nasdaq: GILD) today announced that Ted Love, MD, has been appointed to the company’s Board of Directors. Dr. Love is currently chair of the Board of Directors of the Biotechnology Innovation Organization and serves on the Boards of Directors of Royalty Pharma and Structure Therapeutics. Previously, he was the President and Chief Executive Officer of Global Blood Therapeutics, Inc. where he led the company from a pre-clinical startup to a global c ...

Analysts on Wall Street project that Gilead Sciences (GILD) will announce quarterly earnings of $1.76 per share in its forthcoming report, representing an increase of 5.4% year over year. Revenues are projected to reach $7.08 billion, declining 4.2% from the same quarter last year.The consensus EPS estimate for the quarter has undergone a downward revision of 1.7% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estim ...

Gilead Sciences (GILD) is expected to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on February 6, 2024, might help the stock move higher if these key numbers are better ...

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

Core Insights - Kite, a Gilead Company, has received FDA approval for a manufacturing process change that reduces the median turnaround time (TAT) for Yescarta from 16 days to 14 days, enhancing patient access to this CAR T-cell therapy [1][2][4] Group 1: Manufacturing and Delivery Improvements - The approval allows Kite to shorten the delivery time of Yescarta, which is critical for patients with aggressive relapsed or refractory large B-cell lymphoma [2][3] - The manufacturing process involves collecting T-cells from patients, modifying them, and returning them for infusion, making timing essential for effective treatment [2][3] - Kite has expanded its manufacturing network to meet growing demand, ensuring timely delivery to over 135 authorized treatment centers in the U.S. and more than 400 globally [4][28] Group 2: Clinical Significance - Yescarta is the first treatment to show superior overall survival compared to standard care for patients with relapsed or refractory large B-cell lymphoma, emphasizing the importance of timely access to therapy [2][3] - Over 17,700 patients have been treated with Kite's CAR T-cell therapies, highlighting the company's leadership in the cell therapy market [4][28] Group 3: Industry Context - The CAR T-cell therapy market has seen significant growth, with Kite's manufacturing success rate at 96%, indicating reliability and quality in their production processes [4][28] - Industry experts stress that reducing the time to product release can significantly impact patient outcomes, as delays can lead to disease progression [3]

Gilead Sciences (GILD) closed at $79.07 in the latest trading session, marking a -0.57% move from the prior day. This change lagged the S&P 500's daily gain of 0.76%. Meanwhile, the Dow gained 0.59%, and the Nasdaq, a tech-heavy index, added 1.12%.The HIV and hepatitis C drugmaker's shares have seen a decrease of 1.84% over the last month, not keeping up with the Medical sector's gain of 1.57% and the S&P 500's gain of 2.5%.Analysts and investors alike will be keeping a close eye on the performance of Gilea ...