[Applause] Hello, my name is partane and today I will be talking about attending junior tennis players journey to vegetarian victory from the court to the kitchen. Uh what are some questions I'll be answering in today's talk. First of all, do you know what the actual impact of our food systems are on our gas gas emissions. Well, 33% of all gas emissions are directly linked to our food systems and gas emissions directly linked to rising sea levels, rising temperatures, and extreme weather conditions.In this ...

[Music] [Applause] Right now, this room is on fire. Can you feel it. Can you see and smell the burning.No, that's because this is a fire you can't see and most of us won't feel it perhaps until it's too late. So what kind of fire is this. This fire is inside you.Information of your body and your brain. We are living in a crisis of inflammation. Half the deaths on this planet are caused by inflammatory conditions.Heart disease, diabetes, dementia, and the condition I live with, inflammatory bowel disease. Ev ...

Neuroinflammation and its Impact - Neuroinflammation, often ignored, can accelerate memory loss, worsen anxiety and stress, and facilitate Alzheimer's dementia [5][6] - Factors like poor diet, lack of restorative sleep, and absence of joy can fuel neuroinflammation, leading to a decline in the profoundness of life experiences [7][8] - Surgery-induced inflammation can accelerate neuroinflammation, potentially triggering cognitive decline in vulnerable patients [9][10] Meditation as a Solution - Meditation, rooted in Indian traditions, offers a solution to cool neuroinflammation, especially when delivered in a contemporary and accessible way [12] - A 21-minute multimodal meditation process, combining alternative nostril breathing, chanting, rapid breathing, and breath watching, proves beneficial [13] - Meditators practicing this process showed the lowest levels of stress and the highest levels of well-being during the pandemic [15][16] Scientific Evidence of Meditation's Benefits - Meditators showed C-reactive protein levels one-third of that of controls, indicating a low inflamed state [18] - Meditators from a retreat upregulated genes responsible for fighting against COVID, as published in the Proceedings of National Academy of Sciences [19][20] - Meditation can lead to a better gut microbiome with increased lactobacillus and other beneficial bacteria, reducing gut inflammation [25] Brain Function and Connectivity - Meditation enhances the connection between the switch center (salience network) and the mind-wandering center (default mode network), improving the ability to switch between tasks and mind-wandering states [28] - A 15-minute meditation process enhances long-range connectivity and integration in the brain, similar to the effects of a good night's sleep [32][33] - Meditators showed a brain age six years younger compared to individuals without the practice, and 15-20 years younger than those with mild cognitive impairment and dementia [37] Holistic Benefits - Meditation, combined with diet, good sleep, and joy, contributes to a healthy brain [38] - Meditation can influence adherence to a dietary plan, such as eating twice a day with 50% raw plant-based diet [38] - Meditation increases the production of anandamide, also known as the bliss molecule, which acts at the joy center in the brain [39][40]

Core Insights - Gilead Sciences is focusing on executing its strategy across core franchises, particularly in HIV and oncology, while also diversifying into inflammation [2][3] - The company has developed a strategy over the past 5 to 6 years to maintain leadership in virology and expand into other therapeutic areas [3] - Gilead currently has three growing franchises: virology and HIV, oncology, and inflammation, with promising data from recent presentations at ASCO [4] Financial Position - Gilead has a strong balance sheet and robust cash flows, positioning the company well for future growth opportunities [4]

Financial Data and Key Metrics Changes - The base business, excluding Veclury, grew 4% year over year, primarily driven by growth in the HIV business [6][50] - Total product sales, including Veclury, were down by 1% from last year, reflecting fewer COVID-19 related hospitalizations [8][50] - Non-GAAP diluted EPS was $1.81, with a product gross margin flat year over year at 85% [52][54] Business Line Data and Key Metrics Changes - HIV sales were up 6% year over year, with Biktarvy sales increasing by 7% [7][22] - Livedelzi achieved first-quarter sales of $40 million, reflecting early momentum in its launch [27] - Veclury sales were down 45% year over year, reflecting lower rates of COVID-19 related hospitalizations [28] - Trodelvy sales were down 5% year over year, impacted by inventory dynamics and lower average realized price [29][98] - Cell therapy sales were down 3% year over year, with Yescarta sales up 2% year over year [31] Market Data and Key Metrics Changes - The HIV treatment market continues to grow at an expected rate of 23% annually [22] - Descovy sales increased by 38% year over year, driven by higher average realized price and demand [23][78] - The liver disease segment saw sales of $758 million, up 3% year over year [26] Company Strategy and Development Direction - The company is focused on multiple upcoming launches, including lenacapavir, anetocel, and Trodelvy [13][34] - Gilead Sciences, Inc. has no major loss of exclusivity (LOE) until the end of 2033, positioning itself for top-line growth across therapeutic areas [14] - The company is increasing investment in US manufacturing and R&D infrastructure [15][89] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the upcoming FDA decision on lenacapavir for PrEP, with a potential launch immediately following [9][38] - The company remains well-positioned to adapt to potential policy outcomes in the US [14] - Management noted that the first quarter was lighter than expected but emphasized the variability of the business [54][93] Other Important Information - Gilead Sciences, Inc. received an upgrade in its long-term debt rating from BBB+ to A- [58] - The company returned $1.7 billion to shareholders in the first quarter of 2025 through dividends and share repurchases [58] Q&A Session Summary Question: Expectations for lenacapavir for PrEP and reimbursement dynamics - Management is excited about the upcoming PDUFA date and expects around 75% access within the first six months post-launch, reaching about 90% at the twelve-month mark [62] Question: Impact of HHS and CDC cuts on launch dynamics - Management has not seen anything that would alter plans for the lenacapavir launch and is actively engaging with policymakers [68] Question: Implications of COVID-19 on Descovy and lenacapavir - Descovy saw a 38% growth year over year, driven by market development initiatives, which supports the opportunity for lenacapavir [78] Question: Tariff risks and US market supply - Management indicated that the majority of Gilead's IP is in the US, which suggests lower value for pharmaceutical imports, and they have invested significantly in US manufacturing [86][89] Question: Cannibalization of Descovy by lenacapavir - Management believes lenacapavir will attract both switch patients from daily orals and naive patients, potentially accelerating market growth [124]