Gilead Touts 5% Revenue Jump, Positions for 2024 Growth and Culls Pipeline

Gilead_iStock, Sundry Photography

Pictured: Gilead sign outside its corporate headquarters in Silicon Valley/iStock, Sundry Photography

Gilead Sciences on Thursday released its first-quarter 2024 earnings results, touting a 5% year-on-year increase in total revenue, driven by the strong performance of its HIV, cancer and liver disease businesses.

In Q1, Gilead posted nearly $6.69 billion in earnings, up from more than $6.35 billion during the same period the prior year. The pharma’s HIV franchise, anchored by Biktarvy (bictegravir/emtricitabine/tenofovir alafenamide), remained its strongest unit with quarterly sales growing 4% to more than $4.34 billion.

Biktarvy was Gilead’s top-performing asset bringing in nearly $2.95 billion worldwide, followed by the antiviral Veklury (remdesivir) which took a 3% sales hit but nevertheless brought in $555 million.

“Gilead delivered another strong quarter of revenue growth … in our base business driven by HIV, Oncology and Liver Diseases,” CEO Daniel O’Day said…
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