Gilead Sciences (GILD) 12th Annual Cantor Fitzgerald Global Healthcare Conference summary

Business performance and product launches

• Strong growth in the HIV franchise, with Sunlenca launch in HIV prevention exceeding expectations and a $1 billion sales target for the year.

• HIV prevention business now on a $4 billion run rate, up from $1.5 billion, driven by Sunlenca and pricing tailwinds for Descovy.

• Weekly oral lenacapavir expected to be approved next year, targeting patients preferring oral over injectable options.

• Long-acting injectables and orals are expected to steadily replace daily orals in HIV prevention over the next decade.

• BIKTARVY holds over 52% U.S. market share in HIV treatment, with 70% of new patient initiations, and is considered the gold standard.

Pipeline developments and regulatory outlook

• Approval expected later this year for anitocabtagene autoleucel in cell therapy, with confidence in obtaining a fourth-line-plus label.

• Phase III trial for anitocabtagene autoleucel in second-line-plus multiple myeloma fully enrolled, with future data expected to support expanded indications.

• New daily oral HIV treatment (Bic/Len, Bixlenvo) launched, targeting switch market and patients with resistance or complex regimens.

• Multiple launches planned: weekly oral with Merck next year, and future monthly orals and long-acting injectables for HIV treatment.

• Alpha-4 beta-7 phase II data in ulcerative colitis to be presented this year; program advancing to phase III and combination studies.

Strategic focus and capital allocation

• Focused on three core areas: virology, oncology, and inflammation & immunology (I&I), with significant portfolio transformation over the past decade.

• Recent acquisitions (Arcellx, Ouro, Tubulis) strengthen cell therapy, I&I, and ADC platforms, with early data expected later this year.

• R&D investment now at 20% of revenue, supporting both internal pipeline and selective external innovation.

• M&A appetite remains disciplined, with no urgency for large deals; focus remains on core therapeutic areas.

• Efficiency initiatives ongoing, with further opportunities to optimize procurement, contracting, and operational models over the next 5–10 years.