Gilead Sciences (NASDAQ:GILD) CFO Andy Dickinson told attendees at the Cantor Global Healthcare Conference that the company sees continued growth opportunities across its HIV prevention and treatment businesses, while advancing programs in inflammation, oncology and cell therapy.
Dickinson said the launch of Sunlenca for HIV prevention is meeting or exceeding the company’s expectations across its metrics. Gilead has guided to roughly $1 billion in Sunlenca sales this year, he said, adding that the product had a 70% persistence rate as discussed at the end of the second quarter.
HIV Prevention Strategy
Gilead’s HIV prevention business is currently operating at a $4 billion run rate, up from roughly $1.5 billion not long ago, according to Dickinson. He said the overall HIV prevention market has been growing at a mid-teens percentage rate, supported by greater awareness of prevention options, Sunlenca’s launch, growth in Descovy and pricing tailwinds.
The company expects long-acting prevention therapies to account for a growing share of the market over time. Gilead expects a yearly injectable version of lenacapavir, also known as Sunlenca, to be available in 2028. It also expects a weekly oral lenacapavir option to be approved in the U.S. next year.
Dickinson said the weekly oral could broaden access among people who do not want injectable treatment or who may prefer to move from daily oral medication to a weekly regimen. About 50% of the market currently uses generic daily oral Truvada, he said.
Gilead expects six-month and annual injectable options to coexist. While some physicians value seeing prevention patients twice annually, others and their patients may prefer a yearly intramuscular injection, Dickinson said.
BIKTARVY and HIV Treatment Pipeline
BIKTARVY remains the company’s leading HIV treatment product, with roughly 52% share of U.S. patients receiving HIV treatment and more than 70% of new patient initiations, according to Dickinson. Although percentage growth has slowed as the product has grown larger, he said BIKTARVY can continue to expand.
Gilead recently received approval for Bexlenvo, a daily oral combination of bictegravir and lenacapavir. Dickinson said the product provides an opportunity for Gilead to participate more substantially in the HIV treatment switch market and could serve patients with significant resistance or other complications who are currently on multi-tablet regimens.
The company also expects to introduce a weekly oral treatment combination with Merck next year, followed over time by monthly oral and longer-acting injectable treatment regimens.
On BIKTARVY’s ongoing U.S. government drug-price negotiations under the Inflation Reduction Act, Dickinson said the company expects the impact beginning in 2028 to be manageable. He said the government is expected to publish the results at the end of November and that Gilead continues to expect its HIV treatment business to grow through 2030 and beyond. BIKTARVY has composition-of-matter patent protection through 2036, he noted.
Inflammation and Cell Therapy Programs
Dickinson described inflammation and immunology as Gilead’s third core scientific area alongside virology and oncology. The company plans to present Phase II ulcerative colitis data for its alpha-4 beta-7 program at a scientific conference later this year and is advancing the program into Phase III as a monotherapy while exploring potential combinations.
Gilead has other internal inflammatory bowel disease assets, including a TYK2 inhibitor and gut-restricted FXR agonists, that could potentially support combination approaches. Dickinson said the company is also considering external partnerships, including for potential oral IL-23 combinations.
The company also expects data later this year or early next year from its B-cell depletion program through Ouro and partner Lakefront Bio, formerly Galapagos NV. Dickinson said the program is being evaluated in three relatively large orphan diseases.
In cell therapy, Gilead expects a decision later this year on anitocabtagene autoleucel and remains confident in its expectation for a fourth-line-plus label in multiple myeloma. Dickinson said the therapy could directionally double the size of Gilead’s cell therapy business and may later expand into second-line-plus treatment following a fully enrolled Phase III trial.
Portfolio and Capital Allocation
Dickinson said Gilead’s recent acquisitions of Arcellx, Ouro and Tubulis add to a portfolio that has become more robust over the past decade. He highlighted Tubulis’ antibody-drug conjugate platform and its lead ovarian cancer program, for which data were presented at ASCO earlier this year.
Gilead expects to remain focused on oncology, virology and inflammation and immunology for the foreseeable future. Dickinson said the company will continue to pursue external innovation but has less need for major acquisitions than it did years ago because its internal research engine has expanded. Gilead now moves more than 10 molecules annually from research into clinical development, compared with roughly two to four annually when Dickinson joined the company 10 years ago.
He said the company expects to balance R&D investment, partnerships and operational efficiencies while prioritizing programs that could benefit patients.
About Gilead Sciences (NASDAQ:GILD)
Gilead Sciences, Inc is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. The company’s research focuses primarily on virology, oncology, inflammation and related areas, with products serving patients in the United States and international markets.
Gilead is best known for its HIV treatments, including Biktarvy, Genvoya, Descovy and other antiretroviral therapies. Its portfolio also includes medicines for viral hepatitis, such as Epclusa and Vemlidy, and Veklury (remdesivir), an antiviral treatment for COVID-19.
