Gilead Sciences has reported strong second-quarter 2026 results, with total revenue increasing by 10% year-on-year to $7.8bn, driven by continued growth across its HIV portfolio, oncology medicine Trodelvy and liver disease therapy Livdelzi, despite continued market headwinds.
HIV portfolio fuels growth
HIV product sales rose 12% to $5.7bn, reflecting sustained demand for treatment medicines alongside the rapid expansion of the company’s pre-exposure prophylaxis (PrEP) business. Sales of twice-yearly HIV prevention therapy Yeztugo reached $232m during the quarter, while Descovy sales increased 48% and Biktarvy remained the company’s largest product, generating $3.8bn in revenue.
In oncology, Trodelvy sales increased 26% year-on-year to $457m, while Livdelzi continued to support growth in the liver disease portfolio. However, sales of cell therapies declined and COVID-19 antiviral Veklury revenues fell sharply as demand continued to decrease, reflecting the continued normalisation of the post-pandemic market.
Despite the strong commercial performance, Gilead reported a net loss for the quarter, largely due to acquisition-related research and development charges associated with recent deals involving Arcellx, Ouro Medicines and Tubulis. Excluding these one-time costs, the company said its underlying business continued to perform strongly across its key therapeutic areas.
The company also highlighted progress across its development pipeline, with ongoing investment in programmes spanning HIV, oncology, liver disease and inflammation. Gilead said it remains focused on advancing innovative medicines that address unmet clinical needs while supporting sustainable long-term growth. Management noted that recent product launches and business development activities are expected to further strengthen the company’s commercial portfolio and diversify future revenue streams.
2026 outlook raised
Based on the quarter’s performance, Gilead increased its 2026 outlook, raising expectations for HIV sales growth and modestly increasing full-year product sales guidance.
Daniel O’Day, Chief Executive Officer, Gilead, said the results reflected “continued strength in treatment and the rapid expansion of our PrEP business”, adding that the company remains well positioned to build on its momentum through continued commercial execution, pipeline advancement and strategic investment during the remainder of the year.
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