GILD
Gilead’s getting some groove back
Gilead Sciences says its second quarter was a strong one, with 10% year-over-year revenue growth in the base business. The heavy lifting came from the usual suspects: HIV sales, Trodelvy, and Livdelzi. If you’ve been waiting for the company to prove it can grow beyond the old guard, this is the kind of report that makes the story look a little less like a rerun.
HIV is still the engine room
The biggest headline inside the headline: HIV sales rose 12%. That matters because HIV has long been Gilead’s cash machine, and it’s still doing what cash machines do best — quietly funding the rest of the house. Management also pointed to the rapid expansion of its PrEP business, which is a nice reminder that this franchise isn’t just defending its turf, it’s still trying to expand it.
Why investors should care
The market usually wants one thing from a big biotech: prove the old products still have legs and the newer ones aren’t decorative. Gilead is trying to check both boxes here.
- Stronger base business revenue can help offset pressure elsewhere
- HIV momentum suggests the core franchise is still very healthy
- Better-than-expected performance is enough to lift 2026 revenue expectations
Big picture: this isn’t a flashy moonshot story. It’s the more boring, and often more valuable, version of biotech success — a company showing it can still grow without needing a miracle.