Gilead Sciences (GILD) Goldman Sachs 47th Annual Global Healthcare Conference 2026 summary

Strategic overview and portfolio strength

• Robust pipeline across virology, oncology, and inflammation/autoimmune, with virology (notably HIV) at its strongest point ever and significant momentum in oncology and inflammation.

• Recent launches and clinical successes include Hepcludex for hepatitis D, strong HIV long-acting programs, and positive clinical trial results for once-weekly islatravir with Merck.

• Oncology growth driven by TRODELVY® (37% Q1 growth), upcoming anito-cel launch, and Tubulis acquisition for ovarian cancer.

• No significant patent expiries until 2036, providing a long runway for growth and diversification.

• Disciplined operating expenditure and financial prudence underpin strategic execution.

Drug pricing and policy environment

• MFN agreements aim to address patient affordability while preserving the innovation ecosystem.

• Broader policy discussions in Washington now focus on patient out-of-pocket costs, PBM reform, and 340B, beyond just innovator drug pricing.

• Ongoing engagement with lawmakers to ensure reforms support both affordability and continued innovation.

China strategy and innovation sourcing

• Increased engagement in China, with about 50% of prioritized corporate development assets originating from or linked to China.

• Focus on sourcing late preclinical and early clinical assets, and leveraging China for early-stage studies to improve probability of success.

• Strategic partnerships, such as with Pregene, enable rapid early innovation testing and integration with global platforms.