Gilead Sciences, Inc. · NASDAQ:GILD
Gilead Sciences — 39th Annual J.P. Morgan Healthcare Conference (January 2021)
30 slides from Gilead Sciences's conference presentation, Jan 11, 2021
Slide 1: JP Morgan Healthcare Conference
JP Morgan Healthcare Conference Daniel O’Day Chairman and Chief Executive Officer J a n u a r y 1 1 th, 2 0 2 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements Statements included in this presentation that are not historical in nature are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Gilead cautions readers that forward- looking statements are subject to certain risks and u
Slide 3: Maintaining the highest bar for innovation
Maintaining the highest bar for innovation, combining entrepreneurial biotech spirit with global scale and disciplined focus Building on our legacy to create new possibilities… To meet significant patient need in virology, oncology, and inflammation Transformative Employer & Shareholder Therapies Pa
Slide 4: 2020: Building for Growth
2020: Building for Growth 2020 Strategy Execution Highlights Completed Increased pipeline Re-prioritized Five new product Recruited key talent significant BD size by 50% overall1 programs and created approvals2, including (research, clinical activity to enhance with notable opt-in new governance for
Slide 5: Full Year 2020 Guidance
Full Year 2020 Guidance Updated in millions, except percentages and per share amounts Comments October 28, 2020 January 11, 2021 Product Sales $23,000 - $23,500 $24,300 - $24,350 • Reflects strong performance in-line with prior Product Sales excluding Veklury $21,500 - $21,525 expectations • Reflect
Slide 6: Role of Veklury (remdesivir) More Critical Than Ever
Role of Veklury (remdesivir) More Critical Than Ever US COVID-19 Hospitalizations increased 4x in Q4 Only FDA Approved Antiviral for COVID-19 Q4 2020 US Hospitalizations1 140k US Hospitalizations 120k 111k 105k 101k 104k US Hospitalizations (thousands) 100k 81k 85k 94k ~1 in 2 80k 69k Patients hospi
Slide 7: Clear Path to Near and Long-Term Growth
Clear Path to Near and Long-Term Growth Excluding Veklury (remdesivir) Deliver on Opportunities in New Therapeutic Areas Illustrative Growth (Excluding Veklury) New Therapeutic Areas Diverse and Continue Leadership (Oncology + Inflammation) Sustainable in Antivirals Portfolio Existing Antiviral Base
Slide 8: Growth Driven by Internal and External Innovation
Growth Driven by Internal and External Innovation Near- to Mid-term Growth1 Mid- to Long-term Growth1 lenacapavir magrolimab Cell Therapy Internal assets + Opt-ins: Internal assets + magrolimab Opt-in Opportunities Inflammation Illustrative Growth Oncology Grow Oncology Antivirals Maintain Antiviral
Slide 9: Clear Path to Near and Long-Term Growth
Clear Path to Near and Long-Term Growth Excluding Veklury (remdesivir) Deliver on Opportunities in New Therapeutic Areas Illustrative Growth (Excluding Veklury) New Therapeutic Areas Diverse and Continue Leadership (Oncology + Inflammation) Sustainable in Antivirals Portfolio Prioritize and Execute
Slide 10: Oncology Now an Important New Pillar of Growth
Oncology Now an Important New Pillar of Growth Key Oncology Portfolio Features PHASE 1 PHASE 2 PHASE 3 MARKETED Trodelvy Trodelvy (+ CPI) Trodelvy Trodelvy Trodelvy‡ Basket study mTNBC 1L, mUC, 3L+ HR+/ 3L mTNBC • Multiple new, high-quality therapies mTNBC, mUC, Ovarian (+ PARPi) (incl. NSCLC) mNSCL
Slide 11: Trodelvy as a Cornerstone With Immediate Benefits and Long-Term Potential
TrodelvyTM as a Cornerstone With Immediate Benefits and Long-Term Potential ASCENT (Ph3): 100 Results in 3L+ mTNBC1 • is a foundational therapy Increased median Overall offering immediate transformational 80 Survival to 12.1 from 6.7 benefits in 3L+ mTNBC months (p<0.0001) Probability of OS2 (%) 60
Slide 12: Expansion Plans Across Multiple Tumor Types and Lines of Therapy
Expansion Plans Across Multiple Tumor Types and Lines of Therapy Later Lines Earlier Lines 2025 of Therapy of Therapy Market Size1 Triple-negative Broad Applicability Breast Cancer $40B+ Trodelvy targets Trop-2 Breast Cancer HR+/HER2- Total which is expressed in Breast Cancer multiple cancers sugges
Slide 13: Clear Path to Near and Long-Term Growth
Clear Path to Near and Long-Term Growth Excluding Veklury (remdesivir) Deliver on Opportunities in New Therapeutic Areas Illustrative Growth (Excluding Veklury) Diverse and Continue Leadership Sustainable in Antivirals Portfolio Existing Antiviral Base (Excluding Veklury) Prioritize and Execute Acro
Slide 14: Pioneering in HIV: Past, Present, and Future
Pioneering in HIV: Past, Present, and Future Once-a-Day Oral Long-Acting Legacy Single- Current Single- Investigational Tablet Regimens Tablet Regimens Long-Acting Agent for treatment Lenacapavir 6-month dosing Being studied for for prevention treatment and prevention for prevention First STR Launch
Slide 15: Confident in Biktarvy Near- and Mid-Term Growth
Confident in Biktarvy Near- and Mid-Term Growth #1 64% Prescribed Regimen in y/y Revenue Growth US and Other Regions1 Q3’20 vs. Q3‘19 is a standard of care once-a-day oral option: safe, efficacious, & convenient Consensus Projected US Market Peak Sales2 of Exclusivity Through $>10B 2033 1. Biktarvy
Slide 16: Lenacapavir Could Be A Long-Acting Game-Changer
Lenacapavir Could Be A Long-Acting Game-Changer Lenacapavir Profile Highlights 6-month Dosing Unlocks Significant Potential • Potential first-in-class HIV capsid inhibitor • Assuming equal safety, efficacy, and cost, more people prefer 6-month dosing option • Highly potent investigational agent, dos
Slide 17: Accelerating Development of Lenacapavir in HIV Long-Acting Treatment and Prevention
Accelerating Development of Lenacapavir in HIV Long-Acting Treatment and Prevention Treatment Prevention • 6-month data in treatment naïve population • Monotherapy may be sufficient expected 2H 2021 • 6-month dosing could meet significant unmet • Exploring internal and external partners for need, ma
Slide 18: Progress in Viral Hepatitis Further Strengthens Core Antiviral Business
Progress in Viral Hepatitis Further Strengthens Core Antiviral Business Expected HBV Sales of $1B+ by 20221 Novel HDV Therapy, Synergies with HBV is a first-in-class and potentially $1B+ best-in-class treatment for HDV2 Hepcludex+ TDF $743M 54% TDF 43% 7% 4% % Patients with % Patients with Normalize
Slide 19: Clear Path to Near and Long-Term Growth
Clear Path to Near and Long-Term Growth Excluding Veklury (remdesivir) Deliver on Opportunities in New Therapeutic Areas Illustrative Growth (Excluding Veklury) Diverse and Continue Leadership Sustainable in Antivirals Portfolio Prioritize and Execute Across Portfolio 19
Slide 20: Sustainable, More Diverse Portfolio
Sustainable, More Diverse Portfolio Key Features of Transformed Portfolio Prioritization to Drive Value Growth drivers have high probability of >50% expansion of pipeline1 with higher success from on-market status (e.g. value programs provides opportunity to Trodelvy) or compelling data (e.g. re-pri
Slide 21: Select 2021 Milestones
Select 2021 Milestones Lenacapavir capsid inhibitor COVID-19 Impact: Some clinical trials continue to be impacted by Phase 3 initiation for PrEP the pandemic, which may result in delays in achieving milestones. Hepcludex1 (Bulevirtide) Phase 3 data readout in HDV Regulatory approval Viral Diseases I
Slide 22: 2021 Strategic Business Development
2021 Strategic Business Development 2020 2021 18 Strategic Partnerships & Acquisitions1 Continued focus Execute on Pursue bolt-ons with on transformative opportunities very high bar, remain science from recent BD opportunistic re: 12 Gilead Molecules2 activity exceptional medicines 14+ Opt-in Molecu
Slide 23: 2021 Capital Allocation
2021 Capital Allocation Guiding We will: Principles Continue to invest in our business and R&D pipeline while managing expenses Grow our dividend and pay down at least $4B of debt Repurchase shares 23
Slide 24: Summary
Summary Clear path to growth (excluding Veklury) through strategic transformation of our portfolio Important new pillar of growth in oncology with Trodelvy as cornerstone Strong antiviral foundation with continued leadership in HIV Sustainable growth will be driven by continued internal and external
Slide 25: Thank You
THANK YOU CONTACT US investor_relations@gilead.com investors.gilead.com
Slide 26: Overview of Clinical Pipeline
Phase 1 Phase 2 Phase 3 NDA/BLA/MAA Overview Phase 2/3 of Clinical Viral Diseases Pipeline Today MAA Filed Inflammatory Diseases Clinical stage programs1 53 18 through BD since Jan '19 MAA and BLA Approved sBLA Filed sBLA NDA/BLA/MAA filings, P3 18 sBLA for AA and Registrational P2 trials Pivotal Pi
Slide 27: Viral Disease Pipeline
Viral Disease Pipeline Pre-Clinical Phase 1 Phase 2 Phase 3 Filed Updates since Q3’20 Veklury® (remdesivir for injection) Outpatient COVID-19 Expanded indication Remdesivir inhaled form (GS-5794) Outpatient COVID-19 EV Remdesivir sub cutaneous form (GS-5794) COVID-19 Lenacapavir capsid inhibitor (GS
Slide 28: Inflammatory Disease Pipeline
Inflammatory Disease Pipeline Pre-Clinical Phase 1 Phase 2 Phase 3 Filed Updates since Q3’20 Filgotinib JAK-1 inhibitor (GS-6034) Ulcerative colitis MAA Filed MAA filed Filgotinib JAK-1 inhibitor (GS-6034) Crohn's Disease Filgotinib JAK-1 inhibitor (GS-6034) Psoriatic arthritis Removed from pipeline
Slide 29: Oncology Cell Therapy Pipeline
Oncology Cell Therapy Pipeline Pre-Clinical Phase 1 Phase 2 Phase 3 Filed Updates since Q3’20 TecartusTM (Brexu-cel)1 MCL MAA and BLA Approved MAA approved Axi-cel iNHL sBLA Filed Yescarta® (Axi-cel) 2L DLBCL Yescarta® (Axi-cel) 1L DLBCL Brexu-cel Adult ALL Pivotal Brexu-cel Pediatric ALL Pivotal Ce
Slide 30: Oncology Non-Cell Therapy Pipeline
Oncology Non-Cell Therapy Pipeline Pre-Clinical Phase 1 Phase 2 Phase 3 Filed Updates since Q3’20 TrodelvyTM Sacituzumab govitecan-hziy1 mTNBC (3L) sBLA sBLA filed for full approval Sacituzumab govitecan-hziy (GS-0132) Urothelial (3L+) sBLA for AA sBLA filed for accelerated approval Magrolimab anti-
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