Summary
Gilead Sciences, Inc. (GILD) reported total revenues of $28.8 billion for the year ended December 31, 2024, representing a 6% increase compared to the previous year. This growth was primarily driven by strong performance in its HIV, Oncology, and Liver Disease segments. However, net income attributable to Gilead saw a significant decrease of 92% to $480 million, largely due to substantial impairment charges related to Trodelvy's non-small cell lung cancer (NSCLC) program ($4.2 billion) and higher expenses from the CymaBay acquisition ($3.8 billion). The company is strategically focused on maximizing revenue growth, capitalizing on long-acting HIV therapies, and expanding its oncology portfolio. Key product highlights include continued demand for Biktarvy and expansion of Livdelzi's indication. Looking ahead to 2025, Gilead anticipates continued demand growth for its products, but expects this to be tempered by the effects of the Inflation Reduction Act, a decline in Veklury sales due to reduced COVID-19 hospitalizations, and the impact of a strengthening U.S. dollar. The company maintains a robust R&D pipeline and continues to pursue strategic collaborations and business development opportunities.
Financial Highlights
55 data points| Revenue | $28.75B |
| Cost of Revenue | $6.25B |
| Gross Profit | $22.50B |
| SG&A Expenses | $6.09B |
| Operating Expenses | $27.09B |
| Operating Income | $1.66B |
| Net Income | $480.00M |
| EPS (Basic) | $0.38 |
| EPS (Diluted) | $0.38 |
| Shares Outstanding (Basic) | 1.25B |
| Shares Outstanding (Diluted) | 1.25B |
Key Highlights
- 1Total revenues grew 6% year-over-year to $28.8 billion, driven by strong performance in HIV, Oncology, and Liver Disease segments.
- 2Net income attributable to Gilead decreased significantly by 92% to $480 million, primarily due to $4.2 billion in IPR&D impairments for Trodelvy (NSCLC) and $3.8 billion in acquisition-related expenses for CymaBay.
- 3The HIV franchise saw an 8% increase in sales, reaching $19.6 billion, with Biktarvy showing strong demand growth.
- 4Oncology product sales increased by 12% to $3.3 billion, with Trodelvy sales up 24% year-over-year.
- 5Veklury (remdesivir) sales declined 18% to $1.8 billion, reflecting lower COVID-19 hospitalizations.
- 6Gilead completed the acquisition of CymaBay Therapeutics for $3.9 billion net cash, adding seladelpar for the treatment of primary biliary cholangitis (PBC).
- 7The company anticipates continued growth in 2025, but faces headwinds from the Inflation Reduction Act, lower Veklury sales, and foreign currency impacts.