Gilead Sciences at Barclays: CFO touts YEZTUGO launch, Arcellx deal and “long cycle” growth

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Gilead Sciences (NASDAQ:GILD) Chief Financial Officer Andrew Dickinson told investors astatine the Barclays league that the institution is entering what helium described arsenic “the opening of a agelong cycle,” supported by caller launches, a broadening pipeline, and continued operating discipline.

Dickinson said Gilead had an “extraordinary 2025” crossed its basal business, objective results and commercialized execution, highlighting 2 large merchandise launches: YEZTUGO, its once-every-six-month subcutaneous HIV prevention medicine, and LIVDELZI, which is successful its archetypal afloat twelvemonth connected the marketplace for superior biliary cholangitis (PBC). He emphasized “very beardown operating disbursal control,” “significant maturation successful EPS,” and what helium called the strongest pipeline successful the company’s history.

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Dickinson discussed Gilead’s determination to get Arcellx, a spouse connected anito-cel, a BCMA compartment therapy for aggregate myeloma. He said Gilead entered a concern with Arcellx 3 years agone and announced precocious that it would get the remainder of the institution it does not already ain for astir $8 billion.

He framed the woody arsenic driven chiefly by commercialized accidental and Gilead’s presumption of anito-cel’s profile. Dickinson said the full aggregate myeloma marketplace for compartment therapy is estimated by the institution and competitors to beryllium greater than $20 billion. He besides pointed to what helium characterized arsenic differentiated information data, stating that crossed “hundreds of patients” successful studies, Gilead has not seen neurotoxicity with anito-cel, dissimilar astatine slightest 1 rival that observes neurotoxicity successful astir 10% of patients.

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In summation to afloat economics, Dickinson cited operational and strategical benefits from moving beyond a concern structure, including much streamlined decision-making successful a competitory motorboat environment. He besides said the transaction expands Gilead’s rights to prosecute anito-cel successful further indications and gives the institution entree to Arcellx level exertion and binders—specifically noting that the BCMA binder utilized successful anito-cel tin beryllium utilized successful Gilead’s successful vivo CAR T efforts.

Addressing Gilead’s longer-term oncology strategy, Dickinson said the institution is “really pleased” with advancement crossed Gilead and Kite. He noted oncology generated astir $3 cardinal successful gross past year—about 12% of full revenue—up from “zero” 7 oregon 8 years ago.