GILEAD SCIENCES, INC. Annual Report, Year Ended Dec 31, 2013

Gilead Sciences, Inc.'s (GILD) 2013 10-K filing highlights a year of significant progress, particularly in its liver diseases and HIV segments. The company achieved FDA approval for Sovaldi (sofosbuvir), a groundbreaking treatment for Hepatitis C (HCV) that offers shorter treatment durations and improved efficacy compared to existing therapies. In HIV, Gilead expanded its single-tablet regimen (STR) offerings with the European launch of Stribild and approvals for its components, Tybost and Vitekta. The company also advanced its pipeline, with over 200 active clinical studies, including more than 60 Phase 3 trials. Financially, total revenues grew 15% to $11.20 billion, driven primarily by a 15% increase in product sales, reaching $10.80 billion. This growth was largely fueled by their antiviral products, especially the single-tablet regimens for HIV, such as Stribild and Complera/Eviplera. R&D expenses increased by 20% to $2.12 billion, reflecting continued investment in pipeline development. While SG&A expenses also rose, net income increased to $3.07 billion, or $1.81 per diluted share, up from $2.59 billion, or $1.64 per diluted share, in the prior year. Gilead also continued its commitment to shareholder returns through its stock repurchase program.