Gilead(GILD) - 2023 Q4 - Earnings Call Presentation

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]