Gilead Sciences' revenue 2006-2023

Biopharmaceutical company Gilead Sciences reported total revenues of approximately 27.1 billion U.S. dollars in 2023, almost the same amount like in the preceding two years. Product sales accounted for nearly all of the company’s total worldwide revenues.

Gilead’s HIV product portfolio

Gilead Sciences announced total product sales of around 27 billion U.S. dollars in 2023, of which around 60 percent were derived from its HIV division. Sales of its top HIV treatment Biktarvy generated 11.9 billion U.S. dollars in the same year. The company continues to grow its HIV division, but there were also year-on-year sales declines for two of its top products: Genvoya and Odefsey. Gilead cannot become too reliant on its HIV division and is looking to develop new products and repurpose existing products for new indications.

Curing the COVID-19 pandemic

Drug repurposing is the process of exploring existing treatments to discover new therapeutic benefits. In the race to develop an effective treatment for COVID-19, one potential medication that has gained attention was remdesivir. Originally developed by Gilead Sciences for use against Ebola, clinical trials have shown remdesivir’s safety and efficacy in certain groups of COVID-19 patients. Especially before vaccines became available, the spotlight was on Gilead: it has seen a huge change in its market capitalization.