Gilead Sciences Reports $7.1 Billion Revenue in Q2 2025, Driven by HIV Product Sales

Gilead Sciences, Inc. reported a total revenue of $7.1 billion for the second quarter of 2025, reflecting a 2% increase from $6.9 billion in the same period of 2024. The growth was primarily driven by higher sales in its HIV product line, particularly Biktarvy and Descovy, which saw increases of 9% and 35%, respectively. For the first half of 2025, total revenues reached $13.7 billion, up 1% from $13.6 billion in the prior year. The company also reported a net income of $2.0 billion for the second quarter, a 21% increase from $1.6 billion in the previous year, and a diluted earnings per share of $1.56, compared to $1.29 in 2024.

In contrast to the positive performance in HIV products, Gilead experienced declines in its chronic hepatitis C virus (HCV) and Veklury sales, which fell by 44% and 45%, respectively, due to lower hospitalization rates related to COVID-19. The company’s oncology segment also faced challenges, with cell therapy product sales decreasing by 7% to $485 million in the second quarter, attributed to competitive pressures. Overall, the company’s product sales totaled $7.1 billion for the quarter, with HIV products contributing significantly to this figure.

Gilead's operational metrics showed a mixed performance. The company reported a cash and cash equivalents balance of $5.1 billion as of June 30, 2025, down from $10.0 billion at the end of 2024. The decrease was largely due to significant cash outflows related to debt repayments and stock repurchases, which totaled $1.3 billion in the first half of 2025. Additionally, Gilead's research and development expenses increased by 10% to $1.5 billion for the second quarter, driven by higher clinical study costs and personnel expenses.

Strategically, Gilead has made notable moves, including the acquisition of CymaBay Therapeutics for $3.9 billion, which was recorded as an in-process research and development expense. The company also entered into a partnership with LEO Pharma to develop treatments for inflammatory diseases, with an upfront payment of $250 million. However, Gilead faced a $190 million impairment charge related to its bulevirtide asset, reflecting competitive market pressures.

Looking ahead, Gilead anticipates continued growth in its HIV product line, bolstered by the recent FDA approval of Yeztugo, a new pre-exposure prophylaxis for HIV. The company remains focused on expanding its product offerings and addressing market challenges, while also managing its financial health through strategic investments and cost management.