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

Business performance and growth

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

• HIV prevention business is on a $4 billion run rate, up from $1.5 billion, driven by market expansion and product innovation.

• BIKTARVY holds over 52% U.S. market share in HIV treatment, with 70% of new patient initiations.

• New launches, including Bixlenvo and upcoming weekly oral combinations, aim to capture the dynamic switch market and address resistance.

• Oncology and inflammation businesses are also experiencing growth, with significant data releases expected later in the year.

Product pipeline and innovation

• Sunlenca's launch in HIV prevention is tracking above expectations, with a 70% persistence rate and plans for a yearly injectable by 2028.

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

• Long-acting injectables and orals are expected to gradually replace daily orals in HIV prevention and treatment.

• Anitocabtagene autoleucel approval is anticipated this year for cell therapy, with potential to double the cell therapy business and expand into earlier treatment lines.

• Phase II data for alpha-4 beta-7 in ulcerative colitis will be presented soon, with phase III monotherapy and combination studies planned.

Strategic partnerships and acquisitions

• Recent acquisitions include Arcellx (cell therapy), Ouro (B-cell depletion), and Tubulis (ADC platform), enhancing pipeline diversity.

• Partnerships, such as with Merck for weekly oral HIV treatment and Lakefront Bio for B-cell depletion, are key to advancing combination therapies.

• External innovation remains a focus, but internal R&D has grown significantly, reducing reliance on large external deals.

• M&A appetite remains disciplined, with focus on oncology, virology, and I&I for the foreseeable future.