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    Gilead Sciences Inc (GILD)

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    Gilead Sciences, Inc. is a biopharmaceutical company dedicated to developing innovative medicines for the prevention and treatment of life-threatening diseases such as HIV, viral hepatitis, COVID-19, and cancer. Operating in over 35 countries, with its headquarters in Foster City, California, Gilead's primary revenue streams come from its HIV, oncology, and liver disease product lines . In 2023, HIV products, particularly Biktarvy, were the largest contributors to sales, while oncology and liver disease treatments also played significant roles in the company's financial success .

    1. HIV Products - Focuses on developing and marketing treatments for HIV, with Biktarvy being a major product holding a significant market share in the U.S. .
    2. Oncology - Offers cancer treatments, including Trodelvy and cell therapies like Yescarta and Tecartus, contributing significantly to revenue growth .
    3. Liver Disease Treatments - Provides therapies for hepatitis C and B, contributing to the company's overall revenue .
    NamePositionExternal RolesShort Bio

    Daniel P. O’Day

    ExecutiveBoard

    Chairman and Chief Executive Officer

    Board Chair, Pharmaceutical Research and Manufacturers of America

    Joined Gilead in 2019 after serving as CEO of Roche Pharmaceuticals. Leads Gilead's strategic direction and operations.

    View Report →

    Andrew D. Dickinson

    Executive

    Chief Financial Officer

    Board Member, Sutter Health

    Joined Gilead in 2016. Previously Head of Corporate Development and Strategy. Oversees financial operations and strategic investments.

    Deborah H. Telman

    Executive

    EVP, Corporate Affairs and General Counsel

    Board Member, AtriCure; Board Member, Chicago Humanities Festival

    Joined Gilead in 2022. Oversees legal, compliance, and public affairs. Previously EVP and General Counsel at Organon.

    Johanna Mercier

    Executive

    Chief Commercial Officer

    Board Member, Neurocrine Biosciences; Board Member, Arcus Biosciences; Board Member, USC Schaeffer Center

    Joined Gilead in 2019. Leads global commercialization of Gilead's medicines. Previously held leadership roles at Bristol-Myers Squibb.

    Anthony Welters

    Board

    Director

    CEO, CINQ Care; Executive Chairman, BlackIvy Group; Chairman, Somatus; Board Member, Loews; Board Member, Carlyle Group

    Joined Gilead's board in 2020. Founder of CINQ Care and BlackIvy Group. Focuses on healthcare delivery and economic development in underserved communities.

    Harish Manwani

    Board

    Director

    Senior Operating Partner, Blackstone; Board Member, Whirlpool; Board Member, Tata Sons; Chairman, Indian School of Business

    Joined Gilead's board in 2018. Former COO of Unilever. Brings global operational expertise and leadership experience.

    Javier J. Rodriguez

    Board

    Director

    CEO, DaVita; Board Member, DaVita

    Joined Gilead's board in 2020. CEO of DaVita, a Fortune 500 healthcare company. Brings expertise in healthcare services and patient care delivery.

    Kelly A. Kramer

    Board

    Director

    Board Member, Snowflake; Board Member, Coinbase

    Joined Gilead's board in 2016. Former CFO of Cisco. Brings financial expertise and experience in strategic planning and corporate development.

    Kevin E. Lofton

    Board

    Lead Independent Director

    Board Member, Medtronic plc

    Joined Gilead's board in 2009. Former CEO of CommonSpirit Health. Focuses on improving access to medical care for underserved populations.

    Sandra J. Horning

    Board

    Director

    Board Member, Moderna; Board Member, Olema Pharmaceuticals; Board Member, Revolution Medicines

    Joined Gilead's board in 2020. Former CMO of Roche. Contributed to the approval of 15 new medicines in oncology and other therapeutic areas.

    1. Given lenacapavir's remarkable clinical profile for PrEP, can you elaborate on your strategy to expand the market beyond the current demographics, and what challenges do you anticipate in reaching at least 600,000 users by 2030?
    2. With the noted competitive headwinds affecting Yescarta sales, including both in-class competition and bispecifics, what specific measures are you implementing to counter these challenges, and do you foresee the need to pivot your commercial strategy?
    3. The ASCENT-03 trial is event-driven and may not reach data cutoff this year due to ongoing event accrual. How does this potential delay impact your oncology pipeline timelines, and what contingency plans do you have if delays continue?
    4. Can you clarify the role and importance of subcutaneous injectables in your HIV treatment market relative to your weekly oral options, and how do you intend to position these different modalities to meet patient needs?
    5. Given that Livdelzi received accelerated approval for PBC, how confident are you in completing the confirmatory trials successfully, and what steps are you taking to ensure long-term success and adoption of Livdelzi in the market?
    Program DetailsProgram 1
    Approval DateQ1 2020
    End Date/DurationNo fixed expiration
    Total additional amount$5.0 billion
    Remaining authorization amount$3,074 million
    DetailsPurchases can be made in the open market or in privately negotiated transactions
    YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt
    2024$1,750 Current Portion of LT DebtN/A7.5% = (1,750 / 23,249) * 100
    2025$1,750 Senior Unsecured Notes3.50% 7.5% = (1,750 / 23,249) * 100
    2026$2,746 Senior Unsecured Notes3.65% 11.8% = (2,746 / 23,249) * 100
    2027$1,996 Senior Unsecured Notes2.95% 8.6% = (1,996 / 23,249) * 100
    2030$995 Senior Unsecured Notes1.65% 4.3% = (995 / 23,249) * 100
    2033$993 Senior Unsecured Notes5.25% 4.3% = (993 / 23,249) * 100
    2035$994 Senior Unsecured Notes4.60% 4.3% = (994 / 23,249) * 100
    2036$743 Senior Unsecured Notes4.00% 3.2% = (743 / 23,249) * 100
    2040$989 Senior Unsecured Notes2.60% 4.3% = (989 / 23,249) * 100
    2041$996 Senior Unsecured Notes5.65% 4.3% = (996 / 23,249) * 100
    2044$1,737 Senior Unsecured Notes4.80% 7.5% = (1,737 / 23,249) * 100
    2045$1,735 Senior Unsecured Notes4.50% 7.5% = (1,735 / 23,249) * 100
    2046$2,223 Senior Unsecured Notes4.75% 9.6% = (2,223 / 23,249) * 100
    2047$1,730 Senior Unsecured Notes4.15% 7.4% = (1,730 / 23,249) * 100
    2050$1,479 Senior Unsecured Notes2.80% 6.4% = (1,479 / 23,249) * 100
    2053$988 Senior Unsecured Notes5.55% 4.3% = (988 / 23,249) * 100
    CustomerRelationshipSegmentDetails

    Cardinal Health, Inc.

    Major wholesaler and distributor

    All

    2024: 26% of total revenue, or ~$28,754 million × 0.26 = ~$7,476 million ; 2023: 26% ; 2022: 25%.

    Cencora, Inc.

    Major wholesaler and distributor

    All

    2024: 18% of total revenue, or ~$28,754 million × 0.18 = ~$5,176 million ; 2023: 19% ; 2022: 18%.

    McKesson Corporation

    Major wholesaler and distributor

    All

    2024: 20% of total revenue, or ~$28,754 million × 0.20 = ~$5,751 million ; 2023: 21% ; 2022: 20%.

    NameStart DateEnd DateReason for Change
    Ernst & Young LLP1988 PresentCurrent auditor

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    CymaBay Therapeutics, Inc.

    2024

    Completed in March 2024 as a wholly-owned subsidiary for an equity value of approximately $4.3 billion (or $3.9 billion net of cash), with shares acquired at $32.50 per share. The deal, treated as an asset acquisition, brought in the investigational lead candidate seladelpar for PBC and is expected to affect EPS, with the FDA granting accelerated approval for seladelpar in August 2024.

    XinThera

    2023

    Completed in May 2023 with a cash consideration of about $200 million and a deal structured as an asset acquisition, adding a portfolio of small molecule inhibitors targeting oncology and inflammatory diseases and including contingent payments of up to $760 million.

    Tmunity Therapeutics, Inc.

    2023

    Completed in February 2023 for approximately $300 million in cash, the acquisition was accounted as an asset purchase with a $244 million IPR&D charge. It strategically enhances Gilead's cell therapy platform with next-generation CAR T technologies, rapid manufacturing processes, and includes potential future milestone payments of up to $1.0 billion.

    MiroBio Ltd.

    2022

    Completed on September 20, 2022 with a $414 million cash payment, the asset acquisition brought in MiroBio's capabilities in restoring immune balance and led to a $389 million IPR&D charge. This deal aligns with Gilead's focus on innovative therapies in immunology and inflammation.

    Recent press releases and 8-K filings for GILD.

    Gilead Sciences Reports Q1 2025 Earnings, Pipeline & Financial Results
    GILD
    Earnings
    Guidance Update
    Product Launch
    Dividends
    Share Buyback
    • Full-year guidance remains unchanged with total product sales expected between $28.2B to $28.6B .
    • Diluted EPS improved significantly with GAAP EPS moving from $(3.34) in Q1 2024 to $1.04 in Q1 2025 and non-GAAP diluted EPS reaching $1.81 .
    • HIV product sales reached $4.6B, driven by strong performance with Biktarvy up 7% YoY and Descovy up 38% YoY .
    • Base business grew 4% YoY, highlighted by a successful Livdelzi launch with $40M in sales .
    • Robust pipeline progress with anticipated lenacapavir approval for PrEP (PDUFA decision expected by June 19) and promising Phase III results for Trodelvy in oncology .
    • Achieved a 43% operating margin while recording operational cash flow of $1.8B in Q1 2025 .
    • Committed to shareholder returns with approximately $1.7B returned via dividends ($1.0B) and share repurchases ($730M) .
    8 days ago
    Gilead Sciences Reviews CAR‑T and Autoimmune Therapy Strategies
    GILD
    Product Launch
    New Projects/Investments
    • CAR‑T Innovations: Gilead discussed its upcoming BCMA CAR‑T product for multiple myeloma, highlighting a 62% complete response rate and 97% overall response rate, and emphasized its improved safety profile designed for outpatient administration.
    • Manufacturing and Construct Strategy: The call detailed plans to optimize manufacturing, including both 6‑day and 3‑day platforms, and evaluated bicistronic constructs (combining CD19/CD20 targets) to enhance efficacy while reducing dose and safety risks compared to current products like Yescarta.
    • Expansion into Autoimmune and Broader Oncology: Gilead is advancing an internal product (363) for autoimmune diseases, with planned basket studies in lupus, myositis, and neurology indications, aiming to offer durable treatments and expand their long‑term growth in oncology and autoimmune sectors.
    • Global Commercial and Manufacturing Footprint: The discussion also highlighted the company’s robust global infrastructure with operations in 28 countries and 530 authorized treatment centers, reinforcing its strategy to support rapid product turnaround and deeper market penetration.
    Mar 11, 2025, 2:41 PM