Gilead Sciences ( (GILD) ) has released its Q4 earnings. Here is a breakdown of the information Gilead Sciences presented to its investors.
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Gilead Sciences, Inc. is a biopharmaceutical company based in Foster City, California, with operations in over 35 countries. It focuses on developing and commercializing innovative medicines for life-threatening diseases, including HIV, viral hepatitis, COVID-19, cancer, and inflammation.
Gilead Sciences reported a robust performance for the fourth quarter and full year of 2024, with a notable 8% increase in product sales, excluding Veklury, reaching $26.8 billion. The company’s strong sales growth was driven by products in its HIV and oncology portfolios, and it is planning the potential launch of lenacapavir for HIV PrEP in the summer of 2025.
Key financial highlights include a 6% increase in total revenue for the fourth quarter of 2024 to $7.6 billion, primarily due to higher sales in HIV, oncology, and liver diseases. Biktarvy and Descovy, key products in the HIV portfolio, saw significant sales increases. Oncology sales also grew, driven by products like Trodelvy. The company ended the year with strong liquidity, holding $10 billion in cash and equivalents.
Despite the positive sales growth, Gilead reported a decrease in full-year diluted EPS to $0.38, attributed to significant IPR&D impairment charges and acquisition-related expenses. However, the non-GAAP diluted EPS was $4.62, reflecting higher product sales and lower expenses. The company is set to leverage its diverse product portfolio and strategic initiatives to enhance shareholder returns and patient impact.
Looking ahead, Gilead Sciences anticipates continued growth in 2025, with projected product sales between $28.2 billion and $28.6 billion. The company remains focused on advancing its pipeline, particularly in HIV and oncology, to sustain its market position and meet its financial targets.
