Gilead Sciences: Acquisition of CymaBay Therapeutics Enhancing Liver Disease Portfolio

Gilead Sciences Inc. reported a solid first quarter of 2024. Total product sales, exclusive of Veklury, rose 6% year-over-year to $6.1 billion. Growth was driven primarily by demand across its HIV, oncology, and liver disease verticals. Veklury sales, which are highly correlated to hospitalization rates for COVID-19, totalled $555 million. HIV product sales increased by 4% compared to last year, while oncology sales surged by 18%. The strong performance in the oncology segment was attributed to Trodelvy and Gilead’s cell therapies. Trodelvy has established itself as the go-to regimen for second-line metastatic triple-negative breast cancer. Gilead aims to expand its market leadership in cell therapy with endeavors such as proliferation into community networks in the U.S., doubling its manufacturing capacity, and venturing into new disease areas with next-gen products.