Gilead Sciences (GILD) Investor presentation summary

Strategic vision and priorities

• Aims to deliver over 10 transformative therapies by 2030, focusing on HIV, oncology, and inflammation.

• Strategic priorities include maximizing long-acting HIV therapies, accelerating oncology/inflammation pipeline, and scaling AI.

• Six new transformative therapies and 11 new indications have been delivered since 2019.

• Robust pipeline with 47 clinical programs, including 14 in Phase 3, and disciplined expense management.

• Recent acquisitions (Arcellx, Tubulis, Ouro Medicines) strengthen cell therapy, ADC, and autoimmune portfolios.

Financial performance and capital allocation

• Q1 2026 product sales reached $6.9B, up 5% YoY, with HIV contributing 72% of sales.

• HIV revenues grew 10% YoY, driven by Biktarvy, Yeztugo, and Descovy; Yeztugo Q1 revenue was $166M (+72% QoQ).

• Oncology sales were $789M (+11% YoY), with Trodelvy up 37% YoY and cell therapy at $407M (-12% YoY).

• Liver disease revenue was $767M (+1% YoY), led by Livdelzi's strong launch ($133M, +230% YoY).

• Maintains investment grade credit rating, $21.3B in adjusted debt, and consistent dividend growth (Q1 2026 dividend +3.8% YoY).

HIV leadership and innovation

• Holds 73% share of U.S. branded HIV treatment market, expected to grow to ~80% by mid-2030s.

• Biktarvy remains the most prescribed HIV regimen, with U.S. LOE secured through 2036.

• Yeztugo (lenacapavir) approved as first twice-yearly injectable PrEP, with global expansion and strong clinical efficacy.

• Up to seven new HIV launches expected by 2033, including daily, weekly, monthly, and yearly regimens.

• Expanded PEPFAR partnership to deliver lenacapavir PrEP to up to 3 million people in high-incidence countries by 2028.