Press release
Gilead Sciences Announces First Quarter 2025 Financial Results
Product Sales Excluding Veklury Increased 4% Year-Over-Year to $6.3 billion Biktarvy Sales Increased 7% Year-Over-Year to $3.1 billion FOSTER CITY,
About this update from Gilead Sciences, Inc.
[{"type":"text","content":"\nProduct Sales Excluding Veklury Increased 4% Year-Over-Year to $6.3 billion\n\nBiktarvy Sales Increased 7% Year-Over-Year to $3.1 billion\n\n FOSTER CITY, Calif.--(BUSINESS WIRE)--\nGilead Sciences, Inc. (Nasdaq: GILD) announced today its first quarter 2025 results of operations.\n\n“Gilead had a strong start to the year driven by excellent commercial and clinical execution along with disciplined expense management,” said Daniel O’Day, Gilead’s Chairman and Chief Executive Officer. “Our base business grew 4% year-over-year, primarily led by Biktarvy’s continued strength, and we announced positive topline Phase 3 results for Trodelvy plus pembrolizumab in first line PD-L1+ metastatic triple negative breast cancer. With the upcoming June PDUFA date for lenacapavir for HIV prevention, and continued progress across our diverse pipeline, we look forward to building on our positive momentum throughout the year.”\n\nFirst Quarter 2025 Financial Results\n\n\nTotal first quarter 2025 revenue of $6.7 billion remained flat compared to the same period in 2024, with lower Veklury® (remdesivir) and Oncology sales offset by higher HIV and Liver Disease sales.\n\n\nDiluted earnings (loss) per share (“EPS”) was $1.04 in the first quarter 2025 compared to $(3.34) in the same period in 2024. The increase was primarily driven by prior year charges that did not repeat, including the impact of a $3.9 billion acquired in-process research and development (\"IPR&D\") expense related to the acquisition of CymaBay Therapeutics, Inc. (“CymaBay”), as well as a pre-tax IPR&D impairment of $2.4 billion related to assets acquired by Gilead from Immunomedics, Inc. (“Immunomedics”) in 2020. This increase was partially offset by higher tax expense and higher net unrealized losses on equity investments in the first quarter 2025.\n\n\nNon-GAAP diluted EPS was $1.81 in the first quarter 2025 compared to $(1.32) in the same period in 2024. The increase was primarily driven by the prior year IPR&D expense related to the CymaBay acquisition.\n\n\nAs of March 31, 2025, Gilead had $7.9 billion of cash and cash equivalents compared to $10.0 billion as of December 31, 2024.\n\n\nDuring the first quarter 2025, Gilead generated $1.8 billion in operating cash flow.\n\n\nDuring the first quarter 2025, Gilead paid dividends of $1.0 billion and repurchased $730 million of comm...