Key Highlights

  • Total revenues rose 7% to $8,300 million in the third quarter from $7,769 million a year earlier.
  • Diluted EPS was $1.94, compared with $2.43 in the prior year quarter.
  • Total HIV sales increased 18% to $6,249 million, led by Biktarvy at $4,059 million.
  • Nine-month net loss was $6,045 million, reflecting $11,307 million of acquired in-process Research and Development expenses.
  • The board declared a quarterly Dividend of $0.82 per share.

Third-quarter sales climb 7% as HIV does the heavy lifting

Gilead Sciences (NASDAQ:GILD), a biopharmaceutical company focused on HIV, viral hepatitis, COVID-19 and cancer, filed its third quarter 2026 report on October 30, 2026. Total revenues were $8,300 million, up 7% from $7,769 million, while product sales rose 13% to $8,289 million.

The gap between those two growth rates comes from royalty, contract and other revenues, which fell to $11 million from $424 million a year earlier. Net Income for the quarter was $2,429 million, or $1.94 per diluted share, compared with $3,052 million, or $2.43, a 20% decline in each measure.

HIV Franchise adds about $972 million of sales

Total HIV product sales reached $6,249 million, up 18% from $5,277 million, a gain of $972 million on a calculated basis. Biktarvy contributed $4,059 million, up 10%, and Descovy rose 49% to $1,046 million. Yeztugo, the company's HIV prevention product, generated $305 million against $39 million a year earlier.

In October 2026, the Centers for Medicare and Medicaid Services completed setting the Maximum Fair Price for Biktarvy under Medicare, which takes effect on January 1, 2028. The FDA has set a February 2, 2027 target action date for a once-weekly oral Yeztugo tablet.

Oncology and liver disease grow while Veklury and cell therapy shrink

Trodelvy sales rose 42% to $506 million, and total oncology sales were $860 million, up 9%. Cell therapy sales fell 18% to $355 million.

Liver disease sales increased 13% to $927 million, helped by Livdelzi at $203 million, up 93%. Veklury sales dropped 69% to $86 million from $277 million.

Costs rise as the Arcellx, Tubulis and Ouro deals reshape the nine months

Product gross Margin improved to 81.0% from 78.6% in the quarter, which the company attributed mainly to the expiration of a royalty-related obligation. Research and development expenses grew 19% to $1,608 million, and selling, general and administrative expenses grew 21% to $1,641 million.

Operating income for the quarter was $3,462 million, up from $3,327 million. For the nine months, acquired in-process research and development expenses were $11,307 million, tied to the acquisitions of Arcellx, Tubulis and Ouro Medicines, and a $1.75 billion Impairment hit Assets connected to the discontinued EVOKE-03 lung cancer study. Together they pushed the nine-month operating result to a loss of $4,346 million and diluted loss per share to $4.87, against Earnings of $5.04 a year earlier.

Cash generation, Debt and pipeline catalysts

Net cash provided by Operating Activities for the nine months rose 67% to $11,152 million from $6,692 million. Cash and cash equivalents were $6.4 billion at September 30, 2026, and total debt, net, was $26,231 million.

The board declared a quarterly dividend of $0.82 per share, payable on December 30, 2026 to holders of record on December 15, 2026. Capital priorities include pipeline investment, Business development, dividend growth and repurchases to offset dilution.

Readers may watch the December 23, 2026 FDA target action date for anito-cel in 4L+ relapsed or refractory multiple myeloma, along with Yeztugo uptake and the effect of the Biktarvy price setting in 2028.