Gilead Sciences said total revenues in 2024 increased 6% to $28.8 billion compared to 2023. HIV product sales increased 8% to $19.6 billion, which the company cited to higher demand and higher average realized price.

1. 01

   Gilead Sciences said total revenues in 2024 increased 6% to $28.8 billion compared to 2023. HIV product sales increased 8% to $19.6 billion, which the company cited to higher demand and higher average realized price.

2. 02

   Gilead Sciences recognized partial impairment charges on its Trodelvy metastatic NSCLC IPR&D intangible asset of $2.4 billion in Q1 2024 and $1.8 billion in Q3, totaling $4.2 billion. The revised estimated fair value of the asset was $1.8 billion as of December 31, 2024.

3. 03

   Gilead Sciences said net income attributable to Gilead in 2024 was $480 million and diluted earnings per share attributable to Gilead was $0.38, compared to $5.7 billion and $4.50, respectively, in 2023. The company cited the decrease to an IPR&D partial impairment charge of $4.2 billion and higher acquired IPR&D expenses of $3.8 billion related to the CymaBay acquisition.

4. 04

   Gilead Sciences paid $3.9 billion in net cash for the CymaBay acquisition. In 2024 financing activities, the company made debt repayments of $2.0 billion, dividend payments of $3.9 billion and common stock repurchases of $1.2 billion, partially offset by $3.5 billion in net proceeds from the issuance of senior unsecured notes.

Key figures

Fiscal year ended December 31, 2024

Revenue

$28.8B

Operating income

$1.7B

Net income

$480M

EPS

$0.38

Operating cash flow

$10.8B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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