Gilead Sciences Inc (GILD) Stock Research Report

One pill a day

Few people know the name Gilead, yet many know what its medicines made possible. An HIV diagnosis was once a death sentence. Today, for most patients in Europe and the United States, it means a pill each morning and a long life. Gilead's best-selling medicine is one such pill, and it is called Biktarvy.

That success is also Gilead's weak point. Biktarvy brings in close to half of the company's revenue. From January 2028, Medicare, the American public health insurance for older people, will pay a price for it set by the government.

Gilead itself says it needs new medicines to keep growing. Some are already on the market, and their sales are rising: a shot that protects people from catching HIV, a treatment for breast cancer and a drug for a rare liver disease.

Can they grow large enough before 2028?

What the Company Does

Gilead makes medicines and sells them in more than 35 countries, yet its business rests on one disease and one market. Drugs for HIV brought in 70.5% of revenue in 2025. The United States accounted for 70.9%. At the center stands Biktarvy, a daily pill that treats HIV, which alone earned 48.7% of revenue.

Picture a man living with HIV. Every morning he swallows one of these pills, and he will keep doing so for the rest of his life. A single diagnosis can mean decades of steady sales.

The money passes through a middleman before it reaches Gilead. His pharmacy did not buy the pills from Gilead. It bought them from one of three large wholesalers, which have long handled about 90% of Gilead's American sales.

Around that core sits a ring of other medicines. There are older HIV pills, as well as a pill and a twice-yearly shot that keep people from catching the virus. Gilead also sells treatments for hepatitis and a rare liver disease, and a breast cancer drug. Its CAR T-cell therapies, that is, a patient's own immune cells reprogrammed to attack a blood cancer, complete the list.

The reason, Gilead says, is that rivals and cheaper copies take its sales once patents expire. In 2026 it bought three companies. One of them, Arcellx, has a cell therapy for multiple myeloma, a blood cancer. American regulators have agreed to review Arcellx's request for approval. Gilead's newest candidates lean toward cancer, but HIV still pays for most of the business.

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Legal Notes and Methodology

Producer and publisher: Francesco Monterosso · ReasyPort
Financial information reference: 2026-03-31
Legal contact: legal@reasyport.com

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Gilead Sciences Inc (GILD) - Stock report