Description

Gilead Sciences’ $400 Million Guidance Lift: Is HIV Still The Core Growth Engine?

Gilead Sciences reported a solid first quarter of 2026 characterized by strong commercial performance across its key therapeutic areas, offset by anticipated headwinds in some segments. Total product sales excluding Veklury reached $6.8 billion, marking an 8% year-over-year increase, primarily driven by growth in the HIV franchise, oncology, and liver disease sectors. Including Veklury, total sales were $6.9 billion, up 5%, though down 12% sequentially in line with typical seasonal patterns. The HIV business demonstrated resilience with a 10% year-over-year sales increase to $5 billion, notably driven by Biktarvy (+7%) and the U.S. PrEP market (+87%). The PrEP portfolio, including Descovy and the long-acting injectable Yeztugo, saw strong momentum, with Yeztugo sales growing 72% sequentially and U.S. market coverage reaching approximately 95%.