Gilead Sciences, Inc. (GILD) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, everyone, and welcome to Gilead's first quarter 2025 earnings conference call. My name is Rebecca, and I'll be today's host. In a moment, we'll begin our prepared remarks, followed by our Q&A session. To ask a question, please press star one, and to withdraw your question, press star two. I'll now hand the call over to Jackie Ross, Senior Vice President of Treasury and Investor Relations. Thank you, Rebecca. Just after market closed today, we issued a press release with earnings results for the first quarter of 2025. The press release, slides, and supplementary data are available on the investor section of our website at gilead.com. The speakers on today's call will be our chairman and chief executive officer, Daniel O'Day, our chief commercial officer, Joanna Mercier, our chief medical officer, Dietmar Berger, and our chief financial officer, Andrew Dickinson. After that, we'll open the call to Q&A where the team will be joined by Cindy Peretti, the Executive Vice President of KITE. Let me remind you that we will be making forward-looking statements. Please refer to slide two regarding the risks and uncertainties relating to forward-looking statements that could cause actual results to differ materially. With that, I'll turn the call over to Dan. Thank you, Jackie, and good afternoon, everyone. I'm pleased to share our first quarter results, which reflect strong commercial and clinical execution across the business. Our base business, excluding Victory, grew 4% from the first quarter of 2024, primarily driven by growth in our HIV business. HIV sales were up 6% year-over-year, with Victarvy up 7%, highlighting our demand-led volume growth that was offset in part by the expected headwinds associated with the Part D redesign. LevDelvi continues its stro...