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Reuters
24-04-2025
- Business
- Reuters
Gilead reports quarterly profit, revenue flat as cancer sales slow
Summary Companies Adjusted profit $1.81 per share vs analyst estimates of $1.79 Revenue flat vs year earlier at $6.7 billion Biktarvy sales rise 7%, cell therapy sales fall 3% April 24 (Reuters) - Gilead Sciences (GILD.O), opens new tab on Thursday reported slightly higher-than-expected quarterly earnings on flat revenue, as higher sales of drugs for HIV and liver disease along with expense tightening offset lower cancer drug sales. Adjusted earnings per share came in at $1.81, just ahead of the average analysts' estimate of $1.79 a share, as compiled by LSEG. In the year-earlier quarter, Gilead posted a loss due to acquisition and impairment charges. Keep up with the latest medical breakthroughs and healthcare trends with the Reuters Health Rounds newsletter. Sign up here. Revenue of $6.7 billion was flat compared to a year ago and shy of the $6.8 billion expected by analysts. Sales of HIV drug Biktarvy rose 7% to $3.15 billion, roughly in line with Wall Street estimates, while sales of liver disease drugs rose 3% to $758 million. The California-based biotech has previously said its HIV revenue would be largely flat in 2025 because of changes to the federal government's Medicare health plan for people age 65 and over aimed at reducing out-of-pocket costs for beneficiaries. Sales of cancer drug Trodelvy fell 5% to $293 million, below analysts' estimates of $362 million, due to pricing and inventory issues. Cell therapy product sales fell 3% to $464 million, which Gilead attributed to lower U.S. demand. Sales of COVID-19 antiviral Veklury fell 45% to $302 million, while analysts had forecast $392 million. For the full year, Gilead said it still expects adjusted earnings of $7.70 to $8.10 per share on product sales of $28.2 billion to $28.6 billion, which includes the known impact of tariffs so far imposed by the Trump administration. The U.S. Food and Drug Administration is expected to decide by June 19 whether to approve Gilead's HIV drug lenacapavir as a twice-yearly injection for HIV prevention. "We haven't seen or heard anything to date that would alter our expectations for launch," Gilead CEO Daniel O'Day said in an interview. He also said Gilead continues to discuss with government officials the importance of support for programs to diagnose HIV infection and link people to care. "The information we are getting is that they understand that," O'Day said. Gilead's research and development expenses for the quarter were $1.4 billion, compared with $1.5 billion a year earlier, while sales and administrative costs dropped to $1.3 billion from $1.4 billion.
Reuters
11-02-2025
- Business
- Reuters
Gilead quarterly results beat estimates
Feb 11 (Reuters) - Gilead Sciences (GILD.O), opens new tab posted fourth-quarter results that exceeded Wall Street estimates on Tuesday as its HIV drug sales rose 16% and acquisition-related costs fell. The California-based drugmaker's adjusted profit rose to $1.90 per share from $1.72 a year earlier, beating analysts' estimates of $1.70 per share, according to LSEG data. Revenue for the quarter rose 6% to $7.57 billion, also exceeding Wall Street estimates of $7.14 billion. Net earnings per share rose to $1.42 from $1.14 a year ago. For 2025, the company said it expects adjusted earnings of $7.70 to $8.10 per share on product sales of $28.2 billion to $28.6 billion. The low end of the company earnings range is above analysts' projections of $7.58 per share. They are estimating 2025 revenue of $28.42 billion. "From this foundation of commercial strength, we are planning for the potential launch of lenacapavir for HIV PreP (pre-exposure prophylaxis) in summer 2025," Gilead CEO Daniel O'Day said in a statement. The U.S. Food and Drug Administration is expected to decide by mid-year whether to approve lenacapavir as a twice-yearly injection to prevent HIV infection. Gilead said its fourth-quarter HIV product sales rose to $5.45 billion from $4.69 billion a year earlier, due to higher demand, higher prices and favorable inventory dynamics. Biktarvy sales rose 21% to $3.8 billion, beating the average analyst estimate of $3.48 billion. Sales of COVID-19 drug Veklury fell 53% to $337 million, which was short of Wall Street expectations of $397 million. Oncology sales rose 10% to $843 million and sales of liver disease drugs rose 4% to $719 million. Keep up with the latest medical breakthroughs and healthcare trends with the Reuters Health Rounds newsletter. Sign up here.
