Q4 2025 Gilead Sciences Inc Earnings Call Transcript
Key Points
- Gilead Sciences Inc (GILD) reported strong growth in its HIV business, with a 6% year-over-year increase driven by Biktarvy and a 47% growth in the HIV prevention portfolio.
- The company achieved significant progress with Yeztugo, a twice-yearly HIV prevention injectable, which exceeded coverage goals and is gaining market share.
- Gilead Sciences Inc (GILD) has a robust pipeline with up to 10 ongoing and potential new launches through 2027, including four commercial launches planned for 2026.
- The company reported a 6% growth in its Liver business, driven by the adoption of Livdelzi for primary biliary cholangitis.
- Trodelvy, an oncology product, showed positive momentum with a 6% growth in 2025, supported by positive Phase III updates in metastatic triple-negative breast cancer.
- Gilead Sciences Inc (GILD) faced a 7% decline in cell therapy sales year over year, attributed to competitive headwinds.
- The company anticipates a 10% decline in cell therapy revenues in 2026 due to ongoing competition and new market entrants.
- There are expected headwinds impacting HIV growth by about 2% in 2026 due to drug pricing agreements and changes to the Affordable Care Act.
- Veklury sales declined by $900 million or 49% from 2024, reflecting lower COVID-19-related hospitalization trends.
- The company faces challenges in navigating logistics for healthcare providers and clinics transitioning to injectable HIV prevention treatments like Yeztugo.
Good afternoon, everyone, and welcome to Gilead's fourth-quarter and full year 2025 earnings conference call. My name is Rebecca, and I'll be today's host. In a moment, we'll begin our prepared remarks, followed by our Q&A session. (Operator Instructions)
Now I'll hand the call over to Jacquie Ross, Senior Vice President of Treasury and Investor Relations.
Thank you, Rebecca. Just after market closed today, we issued a press release with earnings results for the fourth quarter and full year 2025. The press release, slides and supplemental data are available on the Investors section of our website at gilead.com. The speakers on today's call will be our Chairman and Chief Executive Officer, Daniel O'Day; our Chief Commercial and Corporate Affairs Officer, Johanna Mercier; our Chief Medical Officer, Dietmar Berger; and our Chief Financial Officer, Andrew Dickinson. After that, we'll open the call to Q&A where the team will be joined by Cindy Perettie, the
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