Gilead Sciences Surges on Strong HIV Drug Sales

Gilead Sciences raised its full-year sales expectations following a robust third quarter, where product sales climbed by 13%. This performance was largely fueled by an 18% increase in its HIV drug franchise, reaching $6.2 billion, attributed to favorable pricing, heightened demand for prevention drugs, and inventory management.

Within its HIV portfolio, Biktarvy sales grew 10% to $4.1 billion. The company also noted that the Medicare program will set a new maximum fair price for Biktarvy starting January 1, 2028, as part of the Inflation Reduction Act. Gilead now projects product sales between $31 billion and $31.3 billion for 2026.

Despite increased sales projections, Gilead revised its full-year adjusted loss per share estimate to a wider range of $1.20 to $0.85, citing $12.4 billion in deal-related charges. The company's liver disease portfolio saw a 13% sales increase, while cell therapy sales declined by 18%, countered by a 42% rise in cancer drug Trodelvy sales driven by strong demand.