Foster City, Calif. — August 5, 2026 — Leads & Copy — Gilead Sciences, Inc. reported its second quarter 2026 financial results, highlighting a 10% year-over-year increase in total revenues to $7.8 billion. This growth was primarily driven by a 10% rise in product sales, excluding Veklury, which reached $7.6 billion. The company’s base business revenue saw a 10% increase year-over-year, fueled by its HIV portfolio, Trodelvy, and Livdelzi.
HIV product sales experienced a 12% increase, reaching $5.7 billion in the second quarter of 2026, attributed to higher average realized prices and increased demand. Biktarvy sales grew by 7% to $3.8 billion, while Descovy sales surged by 48% to $967 million. The Liver Disease portfolio also saw a 10% increase, totaling $877 million, driven by higher demand for Livdelzi and other products. Conversely, Veklury sales decreased by 81% to $23 million due to fewer COVID-19 hospitalizations.
The company announced a diluted loss per share of $(8.45) and a non-GAAP diluted loss per share of $(6.75) for the second quarter of 2026. This was significantly impacted by $(9.08) per share in acquired in-process research and development (IPR&D) expenses, tax expenses related to recent acquisitions, and an IPR&D impairment charge. Total R&D expenses increased to $1.8 billion, largely due to integration and acquisition-related costs. Acquired IPR&D expenses for the quarter were $11.2 billion, primarily from the acquisitions of Arcellx, Tubulis, and Ouro Medicines.
Gilead’s cash, cash equivalents, and marketable debt securities stood at $3.2 billion as of June 30, 2026. The decrease from December 31, 2025, was primarily due to $11.3 billion in cash outflows for acquisitions, debt repayments, dividend payments, and stock repurchases, partially offset by net proceeds from debt financing and operating cash flow.
The company updated its full-year 2026 guidance, now expecting product sales between $30.1 billion and $30.4 billion, and product sales excluding Veklury between $29.8 billion and $30.1 billion. Full-year diluted loss per share is now projected to be between $(3.75) and $(3.40).
Significant clinical and regulatory updates were also announced. Gilead received FDA accelerated approval for Hepcludex for chronic hepatitis delta virus (HDV) infection. In oncology, Trodelvy received FDA approval for first-line treatment of unresectable locally advanced or metastatic triple-negative breast cancer (mTNBC) and European Commission marketing authorization as a monotherapy for the same indication. The company also completed the acquisition of Tubulis for $3.15 billion and Ouro Medicines for $1.675 billion, strengthening its capabilities in antibody-drug conjugates and autoimmune disease treatments.
Gilead declared a quarterly dividend of $0.82 per share for the third quarter of 2026. The company will host a conference call to discuss these results.
Source: Gilead Sciences, Inc.
