At Ando Money, we aim to keep you informed about the financial landscape of leading companies.
Let’s take a closer look at Gilead Sciences net worth and its financial performance in 2024, including revenue breakdown and strategies driving growth.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | Gilead Sciences |
| Full Name | Gilead Sciences, Inc. |
| Website | www.gilead.com |
| Industry | Biopharmaceuticals |
| Traded as | Nasdaq: GILD |
| ISIN | N/A |
| Founded | June 22, 1987 |
| Founders | Michael L. Riordan |
| Country/Territory | USA |
| Headquarters | Foster City, California |
| Chief Executive Officer | Daniel O’Day |
| Number of Employees | 18,000 (2023) |
| Market Cap | $105.31 billion (as of October 2024) |
| Total Assets | $53.579 billion (June 30, 2024) |
| Total Equity | $18.197 billion (June 30, 2024) |
| Revenue | $7 billion (Q2 2024) |
| Net Income | $1.614 billion (Q2 2024) |
What is the Net Worth/Market Cap of Gilead Sciences in 2024?
Gilead Sciences’ market cap is approximately $105.31 billion as of October 2024, placing it among the world’s valuable companies. This market capitalization reflects Gilead’s growth and financial stability within the biopharmaceutical sector.
When comparing Gilead Sciences to other well-established companies in the industry, it is evident that the company holds a strong position. Companies in a similar space include:
- Pfizer
- Merck & Co.
- AbbVie
- Amgen
- Johnson & Johnson
- Bristol Myers Squibb
- Novartis
- Roche
- GlaxoSmithKline (GSK)
- Biogen
Looking for more companies that have made it big? Check out the world’s top companies by worth.
Gilead Sciences Financial Performance Overview
Revenue Breakdown by Product Portfolio
Gilead Sciences saw a total product sales increase to $6.9 billion in Q2 2024, a 5% rise from the same period in 2023.
Excluding the COVID-19 therapy Veklury, product sales reached $6.7 billion, marking a 6% increase. Let’s delve into how different product portfolios contribute to Gilead’s revenue:
HIV Product Revenue
HIV product sales reached $4.7 billion in Q2 2024, showing a 3% increase from 2023. A key driver is Biktarvy, which reported $3.2 billion in sales, marking an 8% growth.
However, Descovy sales decreased by 6% to $485 million due to a lower average realized price.
Liver Disease Product Revenue
The liver disease portfolio saw a substantial 17% increase in sales, reaching $832 million in Q2 2024.
This boost is driven by higher prices due to channel mix in the U.S. and increased demand for products treating chronic hepatitis C, B, and D.
Oncology and Cell Therapy Sales
The oncology segment brought in $841 million during Q2 2024, an increase of 15%. This growth includes key products:
- Trodelvy: Generated $320 million in sales (up 23%).
- Yescarta: Contributed $414 million (up 9%).
- Tecartus: Brought in $107 million (up 21%).
Veklury Sales and Its Impact
Sales of Veklury (used in COVID-19 treatments) reached $214 million, representing a 16% decrease due to lower COVID-19-related hospitalizations. Despite this decline, Veklury remains a significant contributor to the company’s portfolio.
Financial Performance by Region
Regionally, U.S. sales dominate, contributing $4.916 billion to total Q2 product sales.
Europe follows with $1.118 billion, and the Rest of the World adds $878 million. Each region has seen sales growth, driven primarily by key product performances in HIV, liver disease, and oncology.
Quarterly Financial Performance and Key Indicators
Total revenue in Q2 2024 increased by 5% to $7 billion, compared to the same period in 2023.
This growth is primarily attributed to higher sales across various portfolios, excluding Veklury. The gross margin stood at 77.7% (GAAP), while the Non-GAAP product gross margin reached 86.0%.
Operating expenses saw changes as well:
- R&D expenses remained at $1.4 billion.
- SG&A expenses decreased to $1.4 billion, partly due to the absence of prior year’s legal settlements.
- Net Income improved significantly to $1.614 billion from $1.039 billion in the same period in 2023.
Research and Development (R&D) Investment and Its Financial Impact
Gilead’s R&D efforts reflect its commitment to developing new therapies, ensuring future revenue streams.
In Q2 2024, R&D expenses were $1.4 billion, with non-GAAP R&D expenses slightly lower at $1.3 billion
. This investment underscores the company’s focus on advancing treatments in HIV, oncology, and liver diseases.
Strategic Acquisitions and Partnerships
Strategic acquisitions and partnerships have played a vital role in shaping Gilead’s financials. A key example is the $3.9 billion acquisition of CymaBay Therapeutics in 2024.
Such moves enhance the company’s product portfolio and contribute to revenue growth.
Impact of Dividends, Stock Buybacks, and Shareholder Returns
During Q2 2024, Gilead prioritized shareholder value, paying $972 million in dividends and repurchasing $100 million of common stock.
These actions reflect the company’s commitment to delivering consistent returns to shareholders while maintaining a strong financial outlook.
Guidance and Financial Outlook for 2024
Gilead’s full-year 2024 financial guidance anticipates product sales ranging between $27.1 billion and $27.5 billion.
Excluding Veklury, the estimated product sales are $25.8 billion to $26.2 billion. The non-GAAP diluted EPS is projected to be between $3.60 and $3.90, reinforcing confidence in sustained growth.
FAQs about Gilead Sciences
How Has Gilead Sciences’ HIV Product Portfolio Performed in 2024?
Gilead’s HIV product sales reached $4.7 billion in Q2 2024, with Biktarvy leading at $3.2 billion. The portfolio saw a 3% year-over-year increase.
What Is the Role of Oncology Sales in Gilead Sciences’ Financial Performance?
The oncology segment recorded $841 million in Q2 2024 sales, led by Trodelvy, Yescarta, and Tecartus, with sales growth between 9% and 23%.
How Have Liver Disease Products Contributed to Gilead Sciences’ Revenue?
The liver disease portfolio generated $832 million in Q2 2024, a 17% increase, driven by demand in chronic hepatitis treatments.
What Is the Expected Financial Outlook for Gilead Sciences in 2024?
For the full year of 2024, Gilead expects product sales of $27.1 billion to $27.5 billion, with non-GAAP diluted EPS projected to be between $3.60 and $3.90.
How Have Strategic Acquisitions Influenced Gilead Sciences’ Financials?
The acquisition of CymaBay Therapeutics for $3.9 billion significantly impacted financials and enhanced Gilead’s product portfolio for future revenue.
Conclusion
Gilead Sciences continues to demonstrate financial growth and stability in 2024.
For further insights and analysis on financial trends and company performances, explore more on Ando Money. Share your thoughts and engage with our community!
