Foster City, California — August 4, 2026 — Leads & Copy — Gilead Sciences, Inc. announced its financial results for the second quarter of 2026, reporting a 10% increase in total revenues to $7.8 billion compared to the same period in 2025. This growth was primarily driven by higher sales of its HIV portfolio, Trodelvy, and Livdelzi. The company also highlighted significant clinical progress, including three Food and Drug Administration (FDA) approvals and three positive Phase 3 trial updates.
Daniel O’Day, Gilead’s Chairman and Chief Executive Officer, stated that the company’s base business saw a 10% year-over-year revenue increase, largely due to its HIV products, Trodelvy, and Livdelzi. HIV sales specifically rose by 12%, attributed to sustained strength in treatment and the expansion of its pre-exposure prophylaxis (PrEP) business. Gilead now anticipates higher revenue expectations for its base business in 2026.
Total product sales for the second quarter of 2026 increased by 8% to $7.6 billion compared to the second quarter of 2025. Excluding Veklury, total product sales grew by 10% to $7.6 billion. This increase was primarily fueled by higher sales of HIV products, Trodelvy, and Livdelzi, which offset a decline in sales from Cell Therapy and chronic hepatitis C virus (HCV) products.
HIV product sales saw a 12% increase, reaching $5.7 billion in the second quarter of 2026, driven by higher average realized prices and demand. Biktarvy sales grew 7% to $3.8 billion, and Descovy sales surged 48% to $967 million. The Liver Disease portfolio’s sales increased by 10% to $877 million, largely due to increased demand for Livdelzi and chronic hepatitis B virus (HBV) products, partially offset by lower HCV product sales.
Conversely, Veklury sales decreased by 81% to $23 million, primarily due to a reduction in COVID-19-related hospitalizations. Cell Therapy product sales declined 14% to $417 million, reflecting ongoing competitive pressures. Yescarta sales were down 12% to $346 million, and Tecartus sales decreased 24% to $70 million, both impacted by competition.
Trodelvy sales increased 26% to $457 million, driven by higher demand. The company reported a net loss of $10.5 billion, or $8.45 per diluted share, for the second quarter of 2026, a significant decrease from a net income of $1.96 billion, or $1.56 per diluted share, in the same period of 2025. This was largely attributed to $11.2 billion in acquired in-process research and development (IPR&D) expenses related to the acquisitions of Arcellx, Tubulis, and Ouro Medicines, along with an IPR&D impairment from previous Immunomedics acquisitions and higher operating expenses.
Non-GAAP diluted loss per share was $6.75 for the second quarter of 2026, compared to non-GAAP diluted earnings per share of $2.01 in the second quarter of 2025. As of June 30, 2026, Gilead held $3.2 billion in cash, cash equivalents, and marketable debt securities, down from $10.6 billion at the end of 2025. This decrease was primarily due to $11.3 billion in year-to-date cash outflows for acquisitions.
Gilead updated its full-year 2026 guidance, now expecting product sales between $30.1 billion and $30.4 billion. The company anticipates a full-year diluted loss per share between $(3.75) and $(3.40), and a non-GAAP diluted loss per share between $(0.65) and $(0.30).
Key developments since the previous quarterly release include the FDA’s acceptance of a supplemental New Drug Application for Yeztugo for HIV PrEP, positive Phase 3 results for a long-acting oral HIV treatment regimen, and accelerated FDA approval for Hepcludex for chronic hepatitis delta virus (HDV) infection. Gilead also announced a donation of remdesivir vials to Uganda to support Ebola response efforts.
In oncology, Gilead received FDA approval for Trodelvy in the first-line treatment of unresectable locally advanced or metastatic triple-negative breast cancer (mTNBC) and European Commission marketing authorization for the same indication. The company discontinued the Phase 3 EVOKE-03 study evaluating Trodelvy in combination with Keytruda for metastatic non-small cell lung cancer. Gilead also completed the acquisition of Tubulis, a company focused on next-generation antibody-drug conjugates (ADCs).
In inflammation, Gilead completed the acquisition of Ouro Medicines, bringing in gamgertamig, a T cell engager for autoimmune diseases. The company also announced positive Phase 3 results for Livdelzi in primary biliary cholangitis (PBC).
For the full year 2026, Gilead now expects total revenues between $30.1 billion and $30.4 billion. The company’s guidance for diluted loss per share is now projected to be between $(3.75) and $(3.40).
Source: Gilead Sciences, Inc.
