Gilead Sciences executives expressed optimism at the J.P. Morgan Healthcare Conference in San Francisco, highlighting progress with their new HIV drug Yeztugo and outlining future business development plans.
CEO Daniel O’Day noted the company’s recent momentum. “I remember when we were in our small room last year, we knew it wasn’t going to be a quiet year,” he told reporters on the sidelines of the conference. “And guess what? It kind of overdelivered.”
Gilead reported that Yeztugo, approved in June 2025, has achieved 85% payer coverage within six months, nearing its initial target of 90% within one year. Analyst Evan Seigerman from BMO Capital Markets commented on the drug’s launch and financial performance: “Yeztugo launch shows no signs of slowing,” he wrote in an investor note, adding that the drug met its revenue guidance of $150 million for 2025.
Chief Commercial Officer Johanna Mercier shared that many patients who began using Yeztugo in the second and third quarters of 2025 were new to Gilead’s treatments. “Then they come back for a second injection [of Yeztugo], then there are returning patients,” Mercier said. “That’s why we believe there’s strong growth ahead.”
O’Day described Gilead’s ambition for HIV treatment: “We’re not afraid to use the word ‘cure,’” he said. “When you’re a company that’s cured a disease and on the verge of ending an epidemic, you’re kind of bold about your aspirations.” He also stated that Gilead does not face major patent expirations for another decade and is expanding access by licensing lenacapivir—the active ingredient in Yeztugo—to six generic manufacturers for distribution in low-income countries. “We’re the first company to do voluntary licensing of a medicine,” O’Day said. “There was a dogma in the industry: you couldn’t do that.”
Mercier highlighted efforts to reach underserved populations with HIV prevention drugs. She noted that internal data showed most new users of Gilead's other PrEP drug Descovy were white men who have sex with men, prompting new marketing strategies aimed at Black and Latino men in the U.S. South.
Beyond HIV therapies, Gilead is focusing on expanding its oncology portfolio after significant investments since 2020 resulted in approval for Trodelvy, an antibody-drug conjugate (ADC) used to treat cancer. The company is pursuing label expansions into additional cancer indications such as first-line metastatic triple-negative breast cancer and non-small cell lung cancer based on ongoing clinical trials.
Chief Medical Officer Dietmar Berger indicated interest in further developing ADCs and bispecific antibodies to strengthen Gilead's position in oncology research.
CFO Andrew Dickinson reiterated during Tuesday's event that while Gilead continues to seek merger and acquisition opportunities—particularly for its liver disease pipeline—it will be selective given current market conditions. In 2024, Gilead acquired CymaBay Therapeutics for $4.3 billion, gaining accelerated approval for liver inflammation drug Livdelzi; however, Dickinson suggested further deals may take time due to limited options available among liver disease biotechs.
