Gilead Sciences, Inc. Q2 2026 Earnings Recap

Shares in Gilead moved modestly higher by 0.5% following the quarter, reflecting a broadly in-line result with no major surprises or disappointments despite raised HIV growth guidance.

Key Takeaways

• Total product sales (excluding Veklury) increased 10% year-over-year to $7.6 billion, driven by HIV, oncology, and liver disease businesses.
• HIV sales grew 12% year-over-year to $5.7 billion, led by Biktarvy, Descovy, and Yeztugo; full-year HIV sales guidance was raised to 9%–10% growth from 8%.
• PrEP sales doubled year-over-year, exceeding $1 billion for the first time with a $4 billion annual run rate, significantly outpacing the 14% growth in the U.S. prevention market.
• Trodelvy oncology sales rose 26% year-over-year, supported by label expansions and new approvals.
• Livdelzi liver disease sales more than doubled, and the company launched Hepcludex for hepatitis delta virus in the U.S. this quarter.